TS240 after meeting you and talking with your dad I think you just made the best decision on a 94 cobra then that subrua hands down.......That's a damn good price on that car if its a true 94 cobra. Check out make sure its got the right intake manifold the bigger injectors does it say cobra on the airbags etc etc..The cobra as long as you keep it up and not trash it out will hold its value alot better then that impreze you where looking at. The car will run 14's stock. im going to say in the neighborhood of 14.7-14.9...but hey if you want to make it faster come see me at my new job
www.jpsmusclecars.com I got plenty of connections with those type of cars....all you have to do to get it into the 13's with little work and little money with exhuast a better flowing intake and a gear. You can get all of that less then 1k.
One other thing if you ever decide to do a cam or anything your going to have to have the computer flashed or put a 93 a9l computer in it.