Kajo,
Bob Putnam is with that "other company" that also makes a fantastic Cobra replica. He's too much of a gentleman to blow his own horn so I'll toot it for him. ERA is one of the top manufacturers of replicas anywhere. You need to check them out as well.
Don't be too concerned about driving a car with sixties technology. Most of these replicas will out handle anything Detroit builds. You'd be hard pressed to find a Cobra replica that didn't have modern suspension componants.
While many replicas have the traditional carburated motors (both big and small block) quite a few guys run modern fuel injected engines. And yes, there is a wheel standing Cobra out there. I've seen it pop two foot wheelies on the drag strip. However, the car is set up with skinny front wheels, drag shocks and he's running a supercharger with a lot of boost in order to get the front end off the ground. You wouldn't want to drive a car with this set-up on the street.
There are about a dozen good, reputable manufactures of Cobra replicas. Start reading this forum,
www.cobracountry.com and
www.cobraforum.com. as well. In no time you'll be armed with enough knowledge to make an informed decision about which manufacturer to go with.
Good luck and welcome to the fray!
Cheers
Jim