Not sure on a Cobra, but on a GT, the stock pressure with the vac line off and plugged is ~39 PSI. Once the vac line is reattached, the FP is generally drops to ~32 PSI (varies if someone runs a cam with a diminished vacuum signal, etc). IIRC, anything at or over 30 PSI, with the vac line attached, is within spec.
Good call with the vac line sizing. My line was totally vulcanized (it actually had to be cut off and broke into sharp chunks.

). I had some small line on-hand and tossed it on - not sure what size it was though.

Like you, I like to run vac lines on the tight side.
Good luck with it Shane.