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I was just at www.blueovalnews.com and the 2002 Cobra was cancelled and the 2003 Cobra will be unveiled on Feb 6. It will have 390 horse and a 6 speed. The motor is still a 4.6 and it comes with a Eaton supercharger. MSRP will be about 35k and looks like production will start in May.
 

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I checked that site yesterday. They have a scanned article in the Cobra forum from this months(?) Motor Trend that has a write-up by editors with some actual seat time. They make it sound pretty stout. Like Z06/Viper type fast. It could be the fastest production Mustang ever. Start saving your pennies now. I told the wife about it and my birthday is in March, but I don't think she'll surprise me with one. Damnit!
 
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