Was just on my way home when I saw a brand new bright red mustang. I saw dual exhausts so I new it was a GT. Me and him were playing, revving up and letting off but really didn't have an opportunity to race yet. We were coming up on what is kind of a freeway but not really, and I needed to make a right to get on it. He was behind me and I saw his turn sigal on..Oh yeah! So I go around the turn and punch it in first and he is behind me about even. I overrev before second and he passes me and is walking away pretty fast, at around 90 when he shut down he was a few bus lengths ahead. So we roll up to a light he has his window down and gives me the nod as I do the same. I'm trying to keep my rev's at 4k but my car kept rolling forward because of a slight downslope. So I had to let off a bit and I got a luanch at about 2.5K, not the greatest and through first he had a jump on me and was pulling away through 2nd. We come to another light, this time I am ready, I do a beautiful launch at 5K, he lauched perferctly also, he just had slight wheelspin. I got a jump out ahead of him and by the end of first he had me by a nose, end of second his rear bumper at my front bumber,and in third he was gone. As he was passing me I saw the cobra emblem on his car. We came to the next light, and I gave him and asked if it was a cobra. He said, "Yep!, Nice Run!!!". I told him to have a good night as I turned off. Couldn't have lost to a nicer guy, that was my first opportunity to race a mustang, too bad it wasn't just a GT. I am surpised I kept up somewhat with him for him having 100+hp advantage. I was really surpised how well it launched.