I was a die hard Cobra fan ever since my cousin took me for a ride in his 99(only 320HP and still awesome). But again it is still a mustang and I can't stand seeing more mustangs than people these days. And then theres teh 350Z

That thing looks so good, but doesn't have the cobras awesome engine and it weighs way to much. It all comes down to what you like more.
Cobra: in the 12's at $35,000 can't be beat by any other car on the market. The exterior looks better than a regular mustang, but that interior in plain FORD NASTY and the panel gaps look like S%$t

But again you in the 12's
350Z: Just so damn sexy its not even funny. But it doesn't have the power of the Cobran or the performance.