They might be rated the same, but they sure as hell dont dyno the same. On average a mach1 dynos around 320 crank hp. Those cobras run like high 13s to low 14s, mach1s are a solid low 13 second car.

 

i think you are really looking at the wrong stats.
maybe the same hp at flywheel, but really different powerband, different rwhp, different rwtq.

take a look at this dynos
98 cobra vs 01 cobra vs 03 mach 1.
as you're about to see, pretty much different animals

98 cobra
mods
Mac cold air intake,
Steeda Tri-ax short shifter,
Bassani X pipes with high flow cats,
Magnaflow Wideopen Cat-backs




Stock 03 Mach 1
Stock 01 Cobra