DrC,
Assuming the mechanical parts going in are good quality, the car will be as reliable as a "normal" car. Just bring a fully charged cell phone.
Your answer is dead on. A car to have fun with. I'm sure you could do a long drive with it if you had to. You could also trailer the car with your Suburban if you had an extra long trip and wanted the Cobra with you.
Hope to see out at some of our events soon!!
Steve