I've seen and heard a lot of people call the Mustang-based Shelby's "Shelby Cobras". I was always under the impression that "Shelby Cobra" referred to the car based on the AC roadster with a 289 or 427, and that the Mustang-based cars were "GT350s" or "GT500s". Any experts out there who can set me straight?

 

Let's see if I can state all this correctly....

The little AC-based roadster is a Shelby Cobra, both in the 260/289 & 427 versions.

As far as the Mustang based Shelby's...

1965 & 1965 said Cobra on the valvecovers, but they were officially GT-350's in ads & literature.
1967 also said Cobra on some of the emblems, but they were still officially referred to as Shelby GT350/500 in ads & literature.
1968 was the Shelby Cobra GT350/500/KR, as the Cobra name was not being used on the roadster, since it was no longer being produced. The Cobra name appeared in numerous places on the car, as well as being used in ads and other factory literature.
1969/1970, the Cobra name was no longer used in ads or literature, but still appeared on the car. The Cobra name was being used on the Fairlane/Torino car line at that time.

Clear as mud? :scratch:

 

I believe that when CS finally split from Ford, he retained rights to the Shelby name, whereas Ford retained rights to the word "Cobra." This was fortunate for the motoring world, as the 76' "Cobra II" was right on the horizon
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Brad, you've got it striaght, and the other's (not those here-in) terminaology is loose. I don't think it'll ever get any better; just ask them to clarify if there's a doubt.

 

In the 80's the GTs in Canada were sold as Cobras. Then in '93 the Mustang Cobra began under SVT. Just to add more info to the mix.