Not Ranked
Too bad the question is on Ford engines.....I suspect a Cummings diesal from a full sized Dodge pick-up should be the engine of choice for the serious Cobra connesieur...darn, did I spell that correctly?
I still go with the 289 for best bang per buck (but not for a 427 version Cobra....I'm an FE snob when it comes to that).....$500 re-ring/bearing job and probably a bit over 200Hp for the 289 in my 66 Mustang...I think it was rated at 225. So about $2.22 per Hp. Even if you can find a decent junkyard one for about $250, that still makes it only about $3.33 per Hp after a $500 rebuild.
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