Here are two articles from Automobile and Road & Track magazine
on the 2000 SVT Cobra R.  They both say the same basic thing, but
I figured what the heck, I'll post them both anyway.

This coming winter, Ford SVT plans to introduce the 2000 Mustang Cobra R. the car pictured above is the prototype, and its bodywork reveals a thoroughness and attention to detail far exceeding that of the previous 1993 and 1995 SVT Mustang Cobra R's.
John Coletti, chief program engineer of Ford's Special Vehicle Engineering, says, "The only time to do a new Cobra R is when you can run circles around the last one. Although the 1993 and 1995 were also turnkey race cars that were fully street legal, we've become more aggressive with this new car. It's another leap beyond the '95".
The 2000 model will be outfitted with Recaro seats, which the '93's and '95's never had, as well as Eibach springs, Bilstein dampers, eighteen-inch wheels and tires, a functional front air splitter, and a rear spoiler. the car is noticeably lower than the Mustang Cobra. To save weight, it will not have a radio, A/C, or a back seat.
The package is not totally finalized, so we don't have performance figures yet. Sources say, however, that the Cobra R in street trim should fall between the 345 bhp Chevy Corvette and the 450 bhp Dodge Viper. it is estimated to deliver 400 bhp and 400 lb.-ft of torque from its twin-cam 5.4 liter V-8, and engine that's also used in the Lincoln Navigator. Colettie says that the Cobra R will "probably be the fastest and best handling Mustang the Ford Motor Company has ever produced". The larger performance goal is for the car to be competitive in the Motorola Cup events for which it is sanctioned. There is also the possibility that the Cobra R could run in some GT2 events next year.
Only 300 Cobra R's all in "Grabber" orange will be offered for sale at the turn of the millennium and each will cost between $45,000 and $50,000. Racers seeking the best ever and most expensive iteration of Fords turnkey platform, put your name on the waiting list now.   
-Eddie Alterman and Paul Lienert  -Automobile Magazine


Ford's race ready limited edition Mustang Cobra R is being revived for the 2000 model year and is slated to go on sale early next year. A huge front splitter, a massive slatted power dome on the hood and a raised rear wing will distinguish Cobra R models. Like the earlier Cobra R efforts, the competition oriented 2000 model loses the rear seat air conditioning and radio as weight saving measures.  Ford plans to build only 300.
We know the car will use the normally aspirated V-8, but it will likely have a larger displacement than the current 320 bhp 4.6-liter engine found in the stock SVT Mustang Cobra.  Low restriction K&N air filters will be used on the revised intake system.
The new Cobra R will have the advantage of the car's independent rear suspension, though the adjustable Konis of 1995 have been replaced by non-adjustable Bilstein gas-pressurized shocks.
The Cobra uses larger brake rotors and calipers, courtesy of Brembo. The interior is fitted with Recaro sport seats, and the car has been lowered using Eibach springs. A Tremec T-56 6 speed manual, similar to the one used in the Dodge Viper is also part of the package, as are 18 inch wheels shod with P265/40 R18 BF-Goodrich g-force tires.
The Borla exhaust feature twin tipped pipes exiting both sides of the car just forward of the rear wheels.
Tom Scarpello, marketing manager for Ford's Special Vehicle Team, said the streetable package is geared primarily to club racers, and the car is expected to compete against the Dodge Viper ACR due out later this year. Scarpello said that there are no discussions at this time about a factory effort to go up against the Viper or Corvette in GT-2. However SVT and SVE are working with an unnamed racing team to further develop a competitive package for the car. He admitted that Roush Racing has had a hand in developing the Cobra R.
Vipers vs. Corvettes vs. Mustangs Cobras at Le Mans? Wouldn't that be something?
Just as Scarpello was unveiling the Cobra R at the Mustang Club of America's celebration of the Mustang's 35th anniversary commemorative edition of the Mustang GT. Only 5000 have been built and company execs say they are all spoken for.
The anniversary editions feature more prominent side and hood scoops, a raised rear deck spoiler and 17 inch 5 spoke alloy wheels with blacked out insets in the spokes and a galloping horse emblem on the hub covers.
A black applique on the hood and between the taillights is also part of the package. Inside, galloping ponies stitched into the front seatbacks and the buckets have a two tone silver and black treatment. The white face instruments are surrounded by a light silver bezel, while manual transmission equipped models have an aluminum shift knob.
-Matt DeLorenzo  -Road & Track magazine