Ok, having said that, it's a little easier to see you in a cobra. But remember, it's still a rough car and won't have all those creature comforts! I live in OKC for 3 years with a very fast foxbody that had no A/C. My wife liked going to movies or anywhere there was people in that car. It sounded extremely mean and people gawked as you drove by! She liked the attention! haha There's also nothing like setting every car alarm off in the parking lot when you start it up! It only make the gawking that much more fun! haha
I actually disliked the no A/C factor when it was 110 outside and I was getting out of work. By the time I made the 1/4 mile walk to the car in my BDU's (long sleeves and pants). then you have to get in the car that sat in the parking lot all day withthe windows up! But as soon as I fired her up and took off.. it was worth it!
I always recommend a look at Hurricane and shell valley. They were my top 2 choices and I obviously ended up choosing Hurricane.
As far as resale... if you build it yourself and don't go overboard, you shouldn't have much of a problem recouping your money. If you buy all the highest priced stuff and don't do most of it yoruself, you'll likely lose a little.
If you were to build the car, what are you looking for? Big block, small block? Sidepipes or undercar exhaust? You'll need a soft or hard top if you need A/C.