We'll have to have a talk.....
There's a familiar saying, "You can't have your cake and eat it too..."
With a small displacement such as a 302, making horsepower at 7000 rpm will pretty much insure that you won't have any power at all at 2000 rpm. The cylinder head and cam necessary to make horsepower that high will knock you out of any low end power. Even with a stroked 302 (331-347), you can definitely make horsepower at 7000, but you won't be making much at all at 2000.
Coupling a very high strung engine with a 3.07 rearend is also not the best route to take. You certainly have weight on your side with a Cobra, but using a 3.07 gear with an engine without a bottom end is like getting on a bicycle and taking off in 10th gear. You will have no power or acceleration whatsoever in the lower rpms and it will really labor the engine.
My advice would be to hit somewhere in the middle. A stroked 302 (331-347 cubic inches) would be the route to take. If your plan to use 3.07 rear gears is definite, then I would choose a cylinder head and cam to take advantage of that. You would need more low end and mid range power with a higher rearend gear. If I were building this engine for you, I would cam the engine so that the horsepower peak would be around 5500-6000, so that you actually would have some power at 2000-2500 where you'll be spending a lot of your driving time.
I may sound like a broken record as I say this on all the forums and in all my magazine articles, but plan the engine around the rpm range that you will be running in the most. There's nothing wrong with wanting horsepower at 6500-7000, but just remember that when you move the horsepower curve to the right, it takes away power from the left. And when you start with a very small engine to begin with, you really cut yourself short.
As for the heads, there are some nice flowing cast iron heads out there, specifically the ones from RHS.