Sure, it'll help, but you will still have hindered the handling potential of the car in doing so.
Most front engine, fwd cars already start at about 58% front weight as it is, if anything you want to move that rearwards, unless of course you're doing a drag build, where you want more weight on the tires for launch.
If you really want to try to keep up with the Cobra on the straights a little more and you're on a budget, you might want to consider weight reduction, which costs almost nothing and will improve your power to weight ratio (You'll be that much faster in the corners for it, too.), then add some nice tires and whatever power upgrades you can afford for the zetec motor.
My $.02, HTH