i find the fact that it runs in the 8's only 2 years or so after its release impressive, especially given the fact of the relatively small slicks.
Mod motor Mustangs have been running in the 8's for many years, the Cobra Jet at New England Dragway is nothing unique from that standpoint. From the pictures I have seen of them it looks like you get the car with 10.5" slicks, again 8.97 on that tire is not special outlaw 10.5 cars are in the 7's. Really the only unique thing about the Cobra Jet is it's a package sold by Ford verse every other one out there that is running those numbers was built by an individual or private race team.
This is from Car & Driver;
" The 2010 CJ starts as a Mustang V-6 body in white, to which are added fully adjustable drag-specific shocks and springs, manual steering and brakes, a trunk-mounted racing fuel cell, an NHRA-certified roll cage, and a fortified Ford nine-inch axle, among other go-fast bits. Changes for 2010 include optional intercooler cooling fans and a switch from Goodyear/Mickey Thompson rubber to Hoosiers mounted on Weld Racing wheels. Also new is the addition of a rev-limiting launch-control function for CJs with manual transmissions.
A supercharged, 5.4-liter V-8 with a cast-iron block and a conservative 425-hp rating is the standard engine, with optional powertrains including a 475-hp, aluminum-block version with a larger supercharger, as well as several naturally aspirated V-8s. A six-speed manual gearboxcomplete with a burnout-ready line lockcarries over from the 2008 model but can be upgraded to a race-prepped five-speed manual or three- or four-speed automatic, the latter fitted with a transmission brake.
Only 50 examples of the 2010 CJ will be built at the automakers Flat Rock, MI, assembly plant, with base cars costing about $75,000 and heavily optioned versions nudging $95K."
Seems to me you could build one for less than the $75-$95 price and that price only gets you a car that runs low 11's maybe high 10's. How much more are you going to have to spend to get it into the 8's?
If you follow Ford drag racing at all you would know that if your 4.6/5.4 mod motor isn't making 600+ HP you aren't trying.