If what the 94 gt says in the description as all it has then no the cobra is faster the cobra has full exhaust, clutch, flywheel, and shifter it should no doubt be faster than the GT.
the cobra was rough.. engine didnt sound right. it was loud and a quick car but it didnt seem right. had an exhaust leak somewhere and the guy insisted on telling me how he did all these donuts and burnouts in it.
still looking. if anyone knows of any in the maryland area for under 4k let me know. looked at one today at a dealer and it was beat to heck but was fun to test drive haha. going to look at this next http://washingtondc.craigslist.org/nva/cto/1225273466.html