high mile cobras

It all depends on how the vehicle is maintained.
As far as the motor goes, it is just as good or better than any other.
An example --- My cobra has nearly 70K miles on it. Last 15K are mostly track miles. Still runs great. My wife's Cadillac Eldo with the Northstar motor puked it at 40,000. GM got to replace after lots of "discussion".

If the vehicle is abused. Life is short. Take care of it and should give few problems.

Clutch and tranny. Very subjective. Really depends on driver. (I have a Ford truck with over 175K miles. Still original clutch and tranny.

I have a "rule of thumb" on power adders or performance equipment.

"It is not a matter if the motor goes it is a matter of when it goes. Are you prepared and have the resources to fix it?"

Don't get me wrong. I would not think twice to add a power adder to my ride. I'm just not prepared to deal with the "WHEN" at this time.

Just my 2 cents.

I just got one in december. It is still all stock, and because it had 96000 miles on it, I just planned on replacing alot of stuff. luckily the clutch was just replaced before I bought it. I was going from a pretty much stock 94 t-bird to a 97 cobra, so with the exchange I got almost everything I wanted to put in the t-bird. Just make sure to check over everything as usual, plugs,oil, and make sure to open it up before you by it. Take it to the red line and see if anything weird happens. It does sound a little different revving that high, if you aren't famaliar with it. Work the gears, does it shift good 1st to second? Thats all I can think of for now hope that helps. Good luck