Not Ranked
I don't think there is a right or wrong answer to this question as it is all a matter of personal preference.
I have had two Cobra's, not an FE but one with a 427R with 8 stack with 600 horses and the same amount of torque and now one with a Coyote with around 475 hp and much less torque.
If you want the classic look, lumpy and noisy idle go with the 427. If you aren't bothered about originality, the coyote is still a great looking motor under the hood, is very smooth and actually pretty damn loud when you put your foot into it. Also the car handles better with less weight in the nose and frankly with the right gearing (3.91), you don't miss the torque because the car is so light and the thing revs for fun.
It certainly doesn't turn the car into a *****cat either and I am sure it will still bite my ass like a 427 would if I try and take liberties with it.
Just my 2 cents.
Andy
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