[Buzz]

Great input, guys! It seems that there is a majority opinion that the butt needs to be perked up a bit. Will do. the sketches are created in Adobe Illustrator and converted to Photoshop for touching up and saving as a JPG file for posting.
Revised list of musts:
MUSTS:
Wheelbase +/- 100"
Minimalist approach to creature comforts.
High power to weight ratio (must be better than Z06 & Viper)
Irs
Alloy coachwork
Analog gauges.
Manual trans
427 cu. in. V8
2 seats.
Side exhausts ( heavily shielded)
Retractable roll bars.
Large oval front cooling intake.
Open roadster - no targa bar.
Chrome windshield frame and light surrounds.
Huge brakes.
LeMans style fuel cap
Optional hardtop
Retractable rear spoiler (??)
Not so droopy butt
Roll-up windows
Retactable soft top hidden under bodywork. (Manual or power?)
Selective ABS
Selective traction control
Price point below Viper (may be a tall order)

Remember, the Cobra should be a relatively small, light car with an awesome power to weight ratio. It must be a contender for the 0-100-0 dash right out of the box as opposed to an overweight luxo-cruiser.

I will incorporate the physical changes into the design tomorrow and post for feedback. I will also begin work on the Daytona Coupe version.
What about a "small block roadster" model with underbody exhausts and a supercharged V6?