I also have a 94 Cobra, you dont need a stroker, or h/c/i, all you need is to send your upper & lower stock cobra intake to tmoss for a little porting, get a nice cam from www.camshaftinnovations.com (Jay Allen) and use your stock heads and you'll have an instant 500rwhp!!!
im not sure if that is an available option, but it will work fine. the only reason TFS gives the very mild stage 1 with the kit is because that is the largest cam from them that will work with the heads without modifying the reliefs in the pistons.