94/95 cobra- gt40 heads, cobra intake, 24lb injectors, corba wing, 13" brake rotors and 2 piston calipers, slightly larger rear calipers and rotors as well.
about 35-40 HP increase over the gt I think.
That is the basics although there are a LOT of little differences like COBRA stamped valve covers, COBRA on the brake booster, the interior has a different cluster and airbag, decklid for 94/95 Cobras is a one off version with no 3rd brake light (biggest tell I've ever seen as to whether a car is a real Cobra or Fobra since nobody EVER gets that part right). Really stupid stuff too that you'd never look for like the rear anti-moan brackets say Cobra where the GT ones are blank lol... There is other stuff too but I don't want to list it all.
But the big ones are the GT40 heads/intake and the 13" brakes. Oh, and the for real Crane 1.7 roller rockers installed from the factory. 240hp is underrated for these cars, they would make about that TO THE WHEELS in factory form. Most GTs will dyno about 195 in 5 speed trim so 45-50
rear wheel horsepower bump over the GT (not to mention it will respond to bolt ons MUCH better as the GT40 stuff can actually flow vs the restrictive trash are the E7s on the GT. Most "full bolt on" Cobras (gears/cai/longtubes/exhaust/pullies) with a custom tune are in the 260-270whp range easy. With an aftermarket cam it gets a little better but not super much as the stock Cobra cam (actually different and milder than the GT cam) is a very good match with the GT40s.
Is it worth it to get a Cobra vs a GT... really depends on the price, they can go for a premium where you can get a GT in really good shape for like $4k and the GT40 heads/intake are cheap and easy to install. I will say that most Cobras I've seen are in better shape than the GT just because the owners took better care of them but its not always the case. My 98GT is in better shape than almost any other SN95 I've ever seen and it started life as a lowly NPI 2V.