11.75x1.25 with an 8 x 7" base circle is an excellent size. Common in oval track racing, there are a huge number of excellent rotors available, including floating rotor designs.
However, the caliper looks like the Outlaw caliper, with the two halfs held together by some tubes around the bolts. For the forces generated on asphalt (and aren't all Cobras and GT40s asphalt cars), that tends to have too much flex. Does the caliper have a 3.5", 5.25", or radial mounting? A bracket to allow 3.5" mounts (again, common in circle track racing) calipers would allow a huge selection of pieces, with fine tuning of piston sizes, and a wide variety of relatively inexpensive Superlite size pads.
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