No a V10 BA IS going to happen. Me mate's, girlfriend's, sister's, boyfriend's, uncle's, son's, mate's, uncle works at Ford and his mate at ford said that he heard someone at the plant talking about the V10 and they said that they saw the a BA Falcon mule with a V10 Supercharged DOHC and said that it was definatly going to happen.
The V10 in the Cobra looks like a great engine but i dont think it will make it to production though. Ive read somewhere that they want to build the Cobra but with the same engine as the Ford GT (40). Should be a quick car whatever engine they choose.