Greg
At the risk of inciting a riot I reckon the GM engine to be a better engineered product. I agree that a Ford engine would be preferable, based on sentiment, in a Cobra but a Gen IV beats any current Ford option on price, engineering and ease of fitment. Whether a Gen IV has the same 'soul' could be debated.
I would never criticize anyones choice but this is my preference.
Also I think that time runs out at the end of the year for a 302 and I can't guarantee that I can meet that deadline.
My 2 cents worth
Cheers