The biggest challenge, when running a Cobra, is the "hole shot". I would recommend something like 1,500-2,000 rpm for the launch. Tire spin is your biggest enemy. You might even consider a short shift to 2nd, get out of 1st early, get some traction.
Almost no doubt, other than a screwup, you can take the Vette.
Myself, I'd find a vacant street somewhere and practice my launch technique and rpm. If possible, let the clutch out until all driveline slack is taken up. Thats really hard to do, but it could make the difference between twisting an axle or a driveshaft or snapping a gear. At the very least let your clutch come out as much as possible without moving the car, practice that also. DO NOT "side step" the clutch. A couple of things might happen. Engine stall or major tire slip being the primary (not to mention breaking stuff).
If the fuel/air ratio is on the lean side, it's not uncommon to launch and then just as quickly the car stalls/bogs, then it catches and the tires break loose. In such a case, EASE OUT of the hole, don't worry about your 60 ft time. The most important thing is to get the car moving out smoothly so you can hammer down as soon as possible. If he gets the hole shot on you, NO WORRIES, you WILL catch him. Giving him the hole shot will also give him "hope", false hope, as all to soon, he will be crushed like a bug when you go by and blow his doors off.