I doubt if it is the FRPS. I've had a FRPS blow before so I've experienced what that feels like first hand. Sounds more like the tune to me. My car also hesitates if I momentarily lift between gears. RWTD has a large thread written on the topic on modularfords.com. There are various suggestions that range from shifting faster to modifying the top hat assembly. Personally, I think that some of the tune settings that are [IMHO] designed to prevent the FRPS from blowing are at least partially causing the hesitation.
If you do replace the FRPS yourself [five minute job], make sure you bleed the fuel pressure off first.
Cliff,
He powershifts and hasn't had this issues before (and hasn't changed anything).
I've learned that these things can blows to different degrees. I blew one 1/2 mile from my house and almost didn't make it home. Had to push the car into the garage. The 2nd one I blew was less severe. Normal driving would be fine, but romping on the car resulted in the fuel cutting in and out at high rpms.
I see what you're saying and you could be right :biggthump, but IMO any regularly driven Cobra should probably carry a spare FRPS anyway. If his turns out to be good, he always has a spare.
Perhaps the best compromise (since he has a few friends with Cobras) would be to try theirs out in his car and see if the problem persists (before spending the money on a new one) since it only takes a few minutes to swap it out.