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I've heard there was a different run on the heads, bigger cats on the 04, different color schemes, dark charcoal Alcantara seats offered, chrome rims standard, chrome driver's side keyhole on the door.
There's really not much difference at all. There's no web-net thing on the roof inside on the '04 and I believe the 04s have a different clutch, at least a lighter feeling one. I have a first run Cobra and it is one heavy SOB. Oh, the computers have updated software.