This is a really interesting part. This is the pedal box. On the original 427 Cobra, the master cylinders for the brakes and clutch is under the floor. My customer told me one day he wanted to drive this car down the PCH from San Francisco to LA. One of the problems with the original car is you can't slide your foot under the brake pedals because they are floor mounted. We thought a lot about this and decided to hang the pedals from the top.
The problem is; if you hang the pedals from the top, they are right above the exhaust and they will "pre-heat" your brake fluid for you! Bad, very bad--especially if you are facing turn 1 at the end of the straight and you already have your brakes hot. So, we flipped the master cylinders around so they face the driver and the brake pedal turns into a class 1 lever (just like a teeter totter). It made things tight, but it was the only answer that worked.