1) a 05+ puts out moderately modded what at Terminator can put out stock. a 05+ severely modded (built motor/tranny/etc) will equal that of a "dime a dozen" KB/
Whipple cobr, and when all is said and done, probably cost about 10k$ more than a standard KB/Whipple+Support on a 03/04.
And? You're comparing supercharged, to non-supercharged here. The performance world is quickly realizing that the 3V head 4.6L in a lot of cases will equal and even best the 4V head 4.6L in most mod for mod comparisons. I will admit, the DOHC short block in the '03-'04 Cobra is a stout piece, but there's nothing really special about them. Nothing that's couldn't be duplicated with a rod and piston change in most cases if one were so inclined.
2) a 05+ will need to be built to handle anything past 450hp, at 450hp, the 03/04 Motor is barely working, get up to the mid 600's before you are putting it through its paces..
Well.....It seems as though the 3V cars are holding up quite well up to 500hp actually. And let's be honest, how many Cobra owners (or Mustang owners for that matter) really take it beyond the limits of bolt on accessories and push them past that level? Sure, we've all got "intentions" of building a 600...700...or 800hp street terror in our heads, but when reality sets in, the venture and cost of tearing into the top end of the engine to make a supercharger swap, or revamping the entire fuel and ignition system to support the needs of those power levels is more than most Cobra owners are able or willing bare. You'd be surprised just how happy bolt-on 500hp performance can make a person when you consider the cost of the alternative.
3) a 05+ is bulky and ugly, and looks like a fat woman when parked next to a 03/04 (or any SN95 for that matter).
Bulky....depends on your perspective. Larger for certain, but not to the extent that it's clumsy. It's not nearly as nose heavy as a Cobra and as it is, it handles much better than any GT before it, so that's certainly saying something for the car. Ugly....well, now you're just being narrow minded. As you know, looks are subjective and a well dressed S197 IMO is one of the best looking Mustangs ever made. Although I will agree that the '03-'04 Cobra's certainly take the cake in the "stock" looks dept.
4) as far as daily driving goes, IRS>SRA (solid rear axle), especially when you start to make power and have to watch out which streets you drive on with Solid Rear, or else under even the slightest of throttle the rear end skips all about on even the smallest bump.
This argument is kind of strange. For certain the IRS will provide a nicer ride over stutter bumps and will increase tire contact for better handling out back, but it takes more than an independent rear end to make a well balanced car. You're still working with a 25-year-old chassis (all be it an improved version of the Fox) as your starting point. I suppose in stock trim an '03-'04 Cobra will stop the clocks a little sooner than an S197, but this more due to the added power levels provided by the Eaton under it's hood, then any handling characteristics of the car itself. And besides, how long do we Mustangers leave anything stock? The S197 is a far superior and better balanced base to work from and has proven as much at the track when put head to head with earlier models since its introduction in '05.
As far as the watch out when "making power" argument goes. Wheel hop is far more frequent and pronounced with the IRS than it is with the live axle. And I'd be more worried about breaking a half shaft off with the Cobra under hard load than having the back end jump out on me in an S197. Have you actually ever been in an S197? Yes, it's larger, over all, but it's also longer and wider than any Mustang before it. With that length and width comes stability. I've been in both and in instances far beyond "stock" driving situations. The "bulkier" S197 feels far more comfortable when pushed than an '03-'04 Cobra does. The car is far better balanced and doesn't flex, distort of push nearly as hard into the corners as the SN95 does.
5) a set of Full Length SFC's and a good spring/shock combo will make you think you are driving a M3 in the twisties, the car will stay flat in the turns and squat coming out of them. Haven’t been in a 05+ with similar mods, but i doubt it would do the same, higher center of gravity, weight, etc are all playing against it..
You "doubt it would do the same"....there you go again with the speculations. The S197's handle like a champ with
suspension and chassis mods, just like the Cobra. And as I stated earlier, the Cobra's lower centre of gravity is offset by the weight of its enormously heavy iron block, 4V dressings and an additional 100lbs of supercharger under the hood. There's more to building a great handling car than just having an over all lower curb weight. The added weight in the Cobra's front end just happens to be where the car needs reducing the most and is also where the least amount can be removed. Sure, you could go with tubular front end components and custom K-member, but now you're sacrificing structural integrity and safety in the process. Not to mention the S197 will benefit from the same changes. It's all about "balance" and as big as the S197 is, it has no issues with carrying its extra weight well.
6) why start off with a decent platform when you can start off with a great platform?
I think you're mixing up your cars here. The S197 is the better platform, by a good margin. It took 25-years to turn the Fox4 chassis you see nestled underneath your Cobra today into a decent one. Don't let an independent rear end and a set of bigger brakes fool you....the chassis itself is still no different than any run of the mill GT before it.
7) a new GT will likely cost the same as a used but well maintained 03/04. and guess what, the prices for the 03/04 are not depreciating anytime soon, unlike GT's which are dime a dozen nowadays, the 03/04 will continue to be in the ~25k price range for the next few years, and possibly longer due to demand for the combination of parts that made for a great platform to start on, only topped by that of the $45K MSRP+$30K Markup GT500, who's only difference is a 5.4L and Live Axle/Solid Rear.
It's true, an new GT and an '03-'04 Cobra can pretty much be had for the same price....which many of you may think looks good on paper. But what you're forgetting is that no matter how well maintained that Cobra is, it's still going to be a 4-5 year older car, with no warranty. I mean....who buys a Mustang because of its depreciation value?!? Go buy a Ferrari or a Porsche if you want to be able to hold onto its value in 20-years. The Mustang (regardless of the model) was built and designed for the working class man. Rough, tough edges, inexpensive to own and maintain and fun to drive at all times.
I'll take that dime a dozen S197 that I already know was an improvement over the previous model and throw a couple thousand dollars worth of extra's at it to really keep it ahead of the pack over one that I feel I need to wipe down with a diaper, or rush home when I see the sky cloud up because I'm afraid a little "daily abuse" is going to hurt it's resale value.
Listen...Cobra's rock for certain. They've got high points the S197 don't. There's no denying that. But assuming the car is better from every angle because you refuse to acknowledge its low and another’s high points along with it is kind of an ignorant attitude, don't you think?