Oh dear...!
It sounds like you've might not have learnt much in 20+ years...
Tyres (or tires) & aero dynamics will do more to win you races than engines
I'd hazzard a guess that a 4-cyl clubman or lotus with about 300hp would run away from your 800hp sb cobra on just about any track
All things being eqaul an FE in a cobra is a better "replica" unless it's a 289 or FIA. That said, I'm not advocating that a FE is a better engine, but I know that given the choice - I'd go FE.
The SB crowd make me laugh, they're so hypocritical. They're the first to slag off the BB guys, justyfing their choice by claiming it's lighter, faster, better. Yet are up in arms when you tell them there's a chevy (Toyota, or other) under the hood. I got news for those clowns - If it ain't FE, it's the wrong recipe. So you may as well go ls7, lsx, or ford mod motors or even european motors and at least "replicate" Shelby's concept of auto-evolution.
Now the problem with that, is technology advances and then you left wondering! Go FE if you can and never look back, it's what belongs in a 427 SC if you want to "replicate" the car properly!
PIN PULLED
