Bill W.,
Read all the posts you can on this and other forums, take notes, go look at lots of cars in person at various shows and club meets, talk to the owners, and then make up your mind on where you want to be. Is it going to be a show car, a driver, a racer, both driver and racer, trailer queen, a weekend warrior, a collector, whatever. Then go for the manufacturer that has the majority of the qualities you can check off in your own personal "wants" matrix. Take your time...trust me you tastes will change the more you learn.
Some guys want an aluminum car but don't want to pay the "Shelby Tax" so they get a Kirkham and have everything they wanted. It is an outstanding car with no equals. Others, like me, couldn't afford the aluminum body but wanted the Shelby name, and a car that was fully made in Las Vegas, before the outsourcing to South Africa. My preference and I'm happy with my fiberglas car. My neighbor has a gorgeous Superformance that he installed his own 351 in and loves it and wouldn't want anything else, not even an aluminum body. Again, his own preference.
Also, don't forget to look into the 289 cars....the FIA series, etc. There's a whole other world to these Cobras that are mainly dominated by the 427 S/C copies like mine, and many times the earlier small block cars get overlooked. I personally, would be delighted with a 7000 series aluminum bodied Cobra, but no funds available.
Bottom line, have fun learning, respecting and pursuing these things. It truly is addictive and keep asking questions.
See MrMustangs' comments in this thread:
Hello All!