It flows about 5-10cfm more than the Cobra. They're both in the same ball game area. It's runners are designed differently than the Cobra's which in turn causes it to make a few, literally, more horsepower up top, and a few, once again literally, less torque down bottom from what I've seen in dyno comparisons. I like Ford stuff personally, but if you put heads on it the Edelbrock would probably make around 5 if not slightly more peak horsepower than the Cobra. It won't have the same low-end torque, but it's not a big difference at all. Probably wouldn't notice it. The Edelbrock will pull to 6000rpm, but it probably want go any higher without a good dropoff in the power curve.
As far as being a restriction, it depends on which heads you plan to use.