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Blackjack,
I happened to be at a local car show last night and ran into another ex Excalibur employee. He had been there for several years and confirmed everything you said about the exhaust system. It was all necessary to meet DOT noise and pollution specs. He also told me that the very early Cobra's were built under some kind of exemption that allowed them do ignore most of the DOT specs. Several of these had 351's. When they reached a higher production level, I think around late 84 they had to start complying.
Barry,
Last year when I had several holes in my exhaust after breaking the support arm welds, my light came on a lot too. When I fixed the exhaust it stopped. I think it's a check engine light which comes on if it senses the pollution controls are out of spec.
Doug
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