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Bought my first Cobra today, I'm so pumped! Here is a pic of the engine bay, what exactly am I looking at here? A fuel pump? I bought it from a nice couple who inherited it from their father who just passed away. So they didn't know anything about the car.

I'm about to be laid off for the winter, and I'm looking for a good project to keep me busy. Deciding between buying an SN95 Cobra and rebuilding the engine, or just starting with a bare block and building up an engine. Thoughts?

I'm looking at a 97 Cobra that the owner says has a rod knock. What do you all think would be a fair offer? I'm thinking $1500? Assuming the engine will need a rebuild.