Welcome to CHR. You don't mention what tranny you're running, but I'll echo Mike in that one of the most important setup steps on my TREMEC bellhousing was putting a dial indicator on the flywheel, measuring the runout of the alignment hole for the tranny face and using offset alignment dowels to bring it into tolerance. My first bell housing was out of round so much that the tranny alignment flange would not fit, and TREMEC replaced the bellhousing.

Also, the owner of this forum also hosts one of the best Cobra forums out there, IMO. We're not supposed to link to other forums, but since it's a sister group I'm thinking it's OK here, and those Cobra guys & gals may have some good information for you - Welcome to Club Cobra...The world's largest non-biased Cobra site! - Club Cobra