Must be a 1999 he's looking at. LS2 sounds like a guy who my have been smoked a few too many times by 03-04 Terminators.
If someone paid that for a 99 Cobra, then they're insane. I don't make stuff up. I've seen several cobras for around that price with around those miles. I probably still have the messages on this site to prove it. I've never been smoked by a cobra and never will be because I don't race my car against some random stranger who I encounter on the highway and I don't go to the track. I've heard several people, who owned both cars, say that they were pretty even. I've seen a race on youtube, where a stock GTO beats a stock Cobra. I agree that usually the cobra will be faster but it mainly depends on the driver.