My engine builder (FE Specialties) will give me a 12 month warranty, unless it even see's a race track.
"You race it, you own it"! is the usual policy.
So, like they say: "Don't do the crime, if you can't do the time"
I'm sorry for you about your engine problems. These things cost BIG MONEY, I know! But to expect your engine builder to cover it, is asking a little much, don't you think!
There are a lot cheeper things to race, than a Cobra! Ever try 'karting'?
jdog
P.S. You can see my 427fe (money pit), pictures are in my photo gallery. Good luck with your engine.