Hopefully it hasn't been too long to revive this thread from the grave..
But anyway, just wanted to give a little update. Finally got the exhaust put on the car. Got the Mac O/R H pipe connected to a set of Flowmaster 40's with some Pypes flow tubes..all 2.5". I also had the 2.5" tailpipes from Late Model Restoration Supply put on, but unfortunately they didn't fit the cobra very well. It seems like they would be alot better for a foxbody.. So I got the OEM tails welded back on and it sounds PERFECT. It's exactly what I was looking for. Hopefully LMRS will accept the return on the tails. If they don't, I'll have them available for a much discounted price (they will need hangars welded on the front if you want to run those).