You'd have to pry my 95 5.0 out of my cold dead hands before I'd trade it for the torque-less wonder that was the 4.6. Back in the day I'd smack around the newer GT's with a completely stock 95 regardless of what the factory rated the newer motor. Plus the 94/95's have the awesome horizontal tail lights.
The New Edge Cobras would typically destroy me on the street so I went with some forced induction.
With that all said, way too many variables to tell you if it's a good deal or not. It depends on the condition and mods done to both cars over the years. Any imaginable mod is available for either at reasonably similar prices, and junkyards are filled with both for used parts. It's all about what makes you happy.
I can tell you that the 4.6 block will hold a hell of a lot more than the 5.0 block so when you get into big numbers the 5.0 is not no cheaper than the 4.6 cause once you get over 500rwhp you might as well say good bye to that stock 5.0 block and hello to a dart block so there ya go spending more on an item that is not needed for the 4.6 so in all reality in my mind it pretty much equals out if your looking at big power. As far as just simple bolt ons I love my 4.6 and I have drove 5.0s yes they get into there power band faster and are cheaper on mods but which has more potential in stock form the 4.6 hands down as block wise. Again it is all up to you honestly and what you plan on doing with it will factor also.
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