Sorry but I don't see a 2bolt Iron block built to handle 1600hp 11years ago.. Unless you have a billet crank, and billet rods.. and a lot of block prep.. Hell 11yrs ago I don't think they even had ARP2000 headstuds for the Modular cars.. I could be wrong.. Something to think about though.
You're correct on the FGT heads, they are bad ass and require a lot of work to work on a Cobra. Worth it in the end though..
As you get higher and higher into the HP realm I would HIGHLY recommend a stand alone ECU.. Best of luck looking forward to seeing more progress.
I was thinking the same thing, even an iron block built to handle 1600rw today is incredibly impressive, assuming you want it to last more than a handful of passes / a season.