No difference I've ever noticed when I've seen them at shows, but I don't own a Terminator, so I can't say for sure. I do know they have the same pony logo & cruise control buttons.
Had a '98 and '03 and those looked the same, can't imagine why they would blow money on the change. I noticed on EBay they lump the '94-'04 wheels together on many sites.
I replaced my Bullitt wheel with the Cobra 03/04. Turns out the Cobra is double wrapped. Look identical but is a little thicker. I had to change mine due to a cosmetic issue. Thanks everyone