Final configuration:
1) Wilwood Remote Tandem Master Cylinder, 1" bore (15/16" previously).
2) 8.9" dual diaphragm booster built for the 4-wheel disc brake system used by the Cobra R only in 1993.
3) Triple aluminum fluid reservoir on the firewall, connected to the MCs with -3 AN stainless braided lines.
4) GM-type combination valve
https://www.summitracing.com/parts/SUM-760185
5) Adjustable proportioning valve in line to rear brakes.
I finally have it sorted out, and can report way better stopping than before. Very little pedal travel and strong brake booster - but not overly sensitive. So far, so good - and much better than before the change.
Overall, I'm quite pleased with the outcome.