mattkimsey said:
Paint and rims are basic maintnance items on a car 10yrs. old. I really don't know what you spent your money on, but I would like to see a general list excluding visual mods ie. paint, wheels, hood, etc.
I'm also guessing that you have done these modifications over an extended period of time, without the stresses of a car payment, higher insurance, and higher taxes. This boys and girls, is what draws people to 5.0's. You can buy a cheap one for 3-4k and slowly modify it while having a reliable car. Some may start out with the basic TB, MAF, exhaust, subframe, gear....and add to it as money alllows. This can't be done with the car payment of a 27k car.
For a complete list of my mods, click here -->
http://highoutputgt.homelinux.net/info.htm
The $22-25K I stated earlier includes the $6500 I paid for my car. I don't see how you can say the paint and rims are not mods? Believe it or not, I've seen 03 Cobra's with different rims!

As for the paint, yeah that could be a "maintenence item", but if you're building a 5.0 stang in place of an 03 Cobra, most people would want it to look good too. Im sure there's a lot of 95's out there that could use a fresh coat of paint, where I would hope most 03 Cobra's should not need repainted for a long time.
I've had my car going on 4 years now, but I only had a few bolt ons up until last spring when I did all the visual mods and paint. So you could say I've only been modding it for a little under 2 years. This time last year I bought a brand new Ranger, so yes I have had a payment for the last year(the reason my car isn't finished now). I also bought Jesse's 418 around the same time, and I've put close to $10K into the car since last fall. If I had sold my car and used that money and my new-engine money as a down payment on a $27K modded 03 Cobra, my payments would not be very much on a 5 year loan. I would have instant HP, an almost brand new car, and the "mod" money would be spread out over 5 years. Instead of working on my car for 5 years to get around the same power with less reliability/driveability, I would be able to actually enjoy my car for those 5 years.
I love working on cars, and Im eager to get started on another project, but right now I think I would have been happier going with an 03 Cobra instead of the 418. I just went a little horsepower crazy and got more engine than I wanted. I lost track of my most important goal, which was that I wanted to keep the car a semi-daily driver. I had enough sense to go with a milder cam, so I think with a tune and maybe a quieter exhaust, I can still achieve that goal. It would just be much easier to do that with an 03 Cobra tho.
I guess the upside to this whole thing is that I now drive a 33+mpg semi-fun car every day. I managed to get 12mpg one time with the 418
BTW, If you're just going for the fastest drag car, I agree with you that the 5.0 is probably the best choice. For a mild street/strip car, again the 5.0 would be cheaper, but still may not beat a stock 03 and would probably be less reliable. If you want a 10-11 second stock-reliability daily driver, it's hard to beat the 03 Cobra.