You're correct. A few loss's in TQ or HP really won't matter with a Cobra. We built my first 428 FE with the Edelbrock RPM, which had no problem with hood clearance, but the second motor, I used the Vic manifold and had to mill off 3/8" because it hit the hood. We ran another dyno test and it did not make a difference with HP or TQ.
The Victor (air gap) is supposed to keep the fuel cooler.
I also like the looks better.