I agree.  My focus has always been on street cars, where the real details are in how good it runs from idle to 4500rpms, so a dyno doesn't really mean as much.

I wish my local drag strip hadn't closed down (again).  It was a lil 1/8 mile strip about 6 miles from my house.  Made it nice to go off and mess around for a Friday evening.  There is another track an hour away, but that prevents the spotaneous 8pm "hey lets go to the track"

Just my opinion, but a closed element air cleaner would look WAY out of place on a Cobra, IF you can even fit one on it. Space is pretty tight under those hoods. I don't think you'll have room for carb spacers either, so I still think I'd look at running it to the intake.

This style is a bit overcomplicated, but I think you'll get the idea of how it can be run to the intake.

http://saacforum.com/galleryc/albums/userpics/10695/68_Shelby_GT500_PCV___Intake_Connections.jpg

On my 64 there is a PCV valve in a bracket thats bolted to
the two bolts that hold the throtlle linkage. A  hose from one
end of the valve to a spacer under the carb and a hose from the
other end of the valve to the port where the
road draft tube used to be and the filler cap on the intake is vented

On a 66 Engine i have there is a PCV Valve in one cap in the valvecover
with a hose to a port in the intake runner to nr 4 cyl and a hose from the
aircleaner to the cap in the other valvecover . I thought 66 was the first year for
closed crankcase vetilation in California
https://www.bing.com/images/search?view=detailV2&ccid=6gtcg7pR&id=5E71F632DFFAB5AB1B9B3AC6C1E2618400CAB616&thid=OIP.6gtcg7pRrhpH7_eoItEVLwEsCp&q=ford+65+pcv+schematics&simid=608012447125669986&selectedIndex=1&ajaxhist=0