but does anyone adjust the total stiffness of ARB and springs?
or more particular, the perceived wisdom appears to be to stiffen , to reduce weight transfer...
but arent there cases where softening might help?
my belief is that with the cobra softening helped, and that perhaps this is the case with either a) light cars b)cars with high PW ratio .. hmm might be the same thing 
also ive heard stiff springs with soft arbs, or soft springs with stiff arbs - thoughts?
I generally tune to a purpose. Specifically, am I tuning for online or offline racing?
Conventional wisdom says a softer setup is beneficial for slow corners and a stiffer setup is beneficial for high speed ones. I find it useful to make a simlar distinction with setups for on/offline use.
I do the bulk of my running offline ( currently working on my assault of Exhibition mode. 150 races!!) So, my setups tend toward the soft side. If there is no 'competition' to deal with, in most cases, a softer setup has the potential to be faster. It also increases your potential for making mistakes that will cost you time so, my 'online' setup version of the same car would be firmer, more predictable and consistant but, ultimately not as fast.
Personally, I find softening extremely useful with high horsepower cars like your Cobra example. If I am building a car that tends to light 'em up, I soften the springs over the drive accel until I get the hook-up I'm looking for. Actually, I shift the weight from the driven wheels to the undriven wheels, keeping the total sprung weight the same, adjust the ARBs to compensate for the changes in roll resistance on both ends of the car and add a little damper to the now softer springs to keep them under control.
also of course, some of these settings can be worked on to be good for a general setup,
but are some really more track (type) specific (e.g. camber?) ... i guess a bit like gearing and downforce.
e.g. if we go on a twisty circuit, perhaps a good idea (example only
) would be - up FD, inc d/f , inc camber, inc tyre pressure
Here, I would say that the relationship that your looking for with regards to camber, might not be based on the type of track specifically but, it may relate to directly to the flavor of your tune... A stiff setup results in very little suspension travel which in turn limits change in suspension geometry due to movement so, a lower static camber may be sufficient. Conversely a softer suspension will allow more travel and therefore more change in the dynamic camber so, a higher static camber can be utilized to compensate.