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03/04 cobras were s/c from the factory, and so is the GT500, but all the other cobras were NA. Some had 4 valves and at least one year had a 5.4L V8, and any Cobra in the last gen body style mustang would have faired better than the mustang you raced.
You raced a GT with exhaust like Jamie said.
I am curious what your buddy saw though. I believe a stock cobra bumper has a small "SVT" badge above the rear bumper, and the rear bumper has "COBRA" embedded in it in pretty large letters.
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