Regarding your
oil leak, the most common spot for FEs to leak a little
oil is on the passenger side, inside corner (towards the firewall), where the head, manifold, and valve cover all meet up. All FE
oil leaks tend to migrate back, drip off the bell housing, and look like rear seal leaks. Just use a white dinner napkin to wipe along the valve cover, and where the intake manifold meets at the head, and see if you don't have an oil stain on the napkin. If you see
anything, then that's where it's leaking. You know, Ford had a policy at the dealership that a few drops from an FE was "commercially reasonable." So, if you brought your car back to them because it leaked a drop or two you were basically SOL. The fact that you have your DD underneath your Cobra makes it a little tougher -- you might have to rig up a diaper or what not.