I bet that Cobra is a SMALL block (you know, tiny, miniscule size
)! Why? Only a 113 mph trap speed. Clearly running slicks, due to the wheelie. I run 121 mph at 11.90. Back in the day the MAIN difference between a 289 and 427 was trap speed, though both ran in the 12's, but the 427 was WAY faster on the top end. Heck with my tall gears and brute strength I'm just getting started when the 1/4 is over. That thing is pulling VERY hard at the end, I can even run 3rd gear out the back door and STILL be in the 11's!
Thats with iron 1964 OEM Ford heads, 1964 OEM intake, flat tappet cam (not to wild) and REDUCED from 12 to 1 down to 9.6 to 1 compression. Top loader, close ratio, and BIAS ply Goodyears! I'd say my car is pretty darn close to what you could reasonably expect to see 'on the street' back in the day.
"Stock" Cobras, 289 or 427 did in fact run in the low 12's 'back in the day'. While there are faster cars TODAY, bear in mind Cobras held the manufacturers record for over 30 years!