No they do not. There are plenty of Cobra owners pushing well past 600+ hp on the 8.8 IRS. Usually when they get past about 550rwhp is when they swap to the DSS Level 5 halfshafts and hubs though. Actually a very small percentage of Cobra owners swap from their IRS to solid even when modified.
If a person is trying to locate an 8.8 pumpkin it is best to just go for a Mark 8 one. They are much easier to locate and much cheaper as well.
Let me narrow my comment to drag racing only. Road racers or street racers would be the only ones foolish enough to put that kind of money in an IRS that weighs 125lbs. more than the 8.8 straight axle.