i cant decide if i want to stay with my 5.0 in my 94 or swap in a 97 cobra motor. i want to get about 500hp out of either motor which would b easier/cheaper?
Although the cobra engine is nice it's not gonna be drop and go, you're gonna need swap parts, know how, and time, plus whatever parts you need to reach you're goal.
You can't just drop in the 4V 4.6L motor. A lot of the wiring is different because the 94-95 cars are OBD1 while the 96 and up are OBDII. If you want a 4v bad enough, you'll be much better off to sell your car and pick up a Cobra.
Go 5.0L, stroke it to 331 or 347. Then do H/C/I and Full Bolt Ons, etc and Nice Single Turbo kit like the On 3 Performance T70 Single Turbo Kit. You should be at 500 easy.