LAFENATU is right on.
GT40 = 96-97.5 Explorer is the same as the Cobra just not milled as much and the Explorers do NOT have stock roller rockers. So, the Explorer heads have a larger combustion chamber and less compression--easy fix=get them milled down.
GT40P = 97.5-01 Smaller combustion chamber, different angle spark plug (needs special headers, or some LTs fit, some have gotten by with special spark plug boots), the intake valve IIRC is just slightly larger than the GT40s, the exhaust valve is smaller (than GT40); but are supposed to flow better than GT40s.
GT40s vs E7TEs on a stock HO motor is probably good for 20-25 horse easy. That's mainly because the bottle neck on the HO motor isn't the heads, it's the lower intake-specifically runners 1 and 5. The heads are a bottle neck, but on the stock setup they are not the largest bottle neck.
GT40s vs E7TEs, if you have a cam and intake, GT40s could gain you 30+ horse. That's ball-park, everyone's setup will be different. But, as far as best bang for the buck, GT40s/GT40Ps will be hard to beat.
I picked up my GT40s for $80 at the local pull-your-part. An hour and a half of work, I had GT40s, 65mm TB, upper/lower GT40 Explorer intake, (8) 4-pintel 19# fuel injectors, plus a bunch of misc hardware for $145 total. I didn't end up using the explorer intake as I went with an SVO motorsport intake, but the point is there are deals out there if you look.