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I have a single post lift. It is out of the way and more convenient than a 2 or 4 post. Although it seems like a 2 or 4 post is safer.
Every time that I open the garage door, I wonder if the post will be tipped over with my car on top and with the post laying on the truck! Lol
As long as your foundation is fairly new/strong it should be fine
The one I have will lift the Cobra fine, it will lift the NASCAR as well, but anything heavier won't go up more than a foot
I have some pictures of it in my gallery with a cobra on it
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