The shortblock of an 89'-93' would serve the same purpose. Technically, the 92' and older Mustangs had forged pistons, and the 93' and newer engines had cast pistons, but it makes absolutely no difference in this application. As long as you have your Cobra cam and tin you can make it back into a Cobra engine. The stock GT40 heads that came on the Cobra have trivial value because the GT40p heads that came on the Explorer engines were actually better, and you can pick those up very cheaply from a salvage. Most people are going to hunt around for a GT40p head instead of a Cobra GT40 head if they are doing a budget build. I am honest about this even though I currently have a set of Cobra GT40 heads that I am selling right now. One of the intake bolts broke off in the in the head and I am honestly not even sure if it's worth the hassle to have the bolt extracted to sell them vs just recycling them for scrap. I have an original Cobra cam too.
Kurt