hmmmm, I dont think you would have clearance issues :-\ do you have a muffler shop that can do custom bends incase you do need extra room?
I was told by some people on another forum that it was impossible because the 99+ Cobras have IRS - no differential. The Cobra in the pic must have IRS because the pipes come together and almost touch. I think it's a unique mod, but would be concerned that a shop fabricating this would makes something that would rub the gas tank or rub the diff/rear axel.