The specs are the sticky on the top of the forums: "94-95 GT/GTS/Cobra Specific FAQ Sheet". Scroll down to #14. I personally don't think it's a good cam to hit 350 with - there are better cams to get. GT-40 heads will also be a problem - you'd probably be pressed to beat 300 with the Cobra cam and heads.
Do you want 350 at the wheels or the motor? Either way the GT40 heads are not a good option for that and neither is the Stock Cobra cam. Go with something like the Trick flow H/C/I kit they are built specifically to work together and are rated at 350 and 360 HP
it would probably be ok if you are going for the 350 with a blower. naturally aspirated though, you will need much better flowing parts all around to make the lind of power you are hoping for.
Thanks for the input. Im happy to find a forum ready to teach. Twisted wedge heads, and an X303 cam...is that closer? Those were the ones i was going for, the stock cobra cam, and gt40 heads were just offered recently.
If your shooting for 350rwhp it will be tough to make with the stock 5.0 shortblock. It's possible but you will have to have a very well put together combo. The trickflow heads are pretty good but I think there are better cams out there than the X303.
A well known combo for a 300-330rwhp is AFR 165 heads, Edelbrock performer intake, FTI custom cam, and all the supporting mods.