If it was running bad after you shifted it into foward it's possible that the shift cable got sticky (then can corrode internally) and kept the ESA engaged which would cut like half the engine power...if you can't get the drive in gear at all, then first I'd verify that there's gear oil in it (lets hope so) and next I'd pull the the drive off and check the movement of the shift cable. You may just need a new shift cable. I'd also change the oil in the drive and check for metal chunks in the gear oil. One of the problems with the Cobra is that if the shift cable gets sticky or is out of adjustment, then the drive may not be fully in gear (the shift dog is not fully engaged with the foward or reverse gear) and it pop out of gear which can wear the shift dogs down. Eventually it will not stay in gear and you will need a lower unit re-build...have a look here for good info....
http://www.hastings.org/~stuart/cobra/Here is the right way to change the gear oil in a Cobra...
http://support.crowleymarine.com/entrie ... nt-fillinghere's how to remove the drive...I built a stand to make it easier...
http://support.crowleymarine.com/entrie ... ve-removaland here's how to reinstall it...
http://support.crowleymarine.com/entrie ... stallation