Jase,
Since you are in Victoria you still have the option of building a small block Ford powered car. The 5.0 Windsor is still legal till the end of this year.
In Victoria we have a 3 year grace period for registration provided you can prove you have started your car before the end of this year. This means getting an egineer engaged into the project and having a chassis that was built before 1st Jan 2005.
Pete, Just because I'm pro-LS1 doesn't mean I'm anti-Ford. I love my fords and I'd love to see more Ford powered Cobras on the road (It means there's more easy beats out there for us LS1 powered boys)
Cheers