Hello! I'm convinced I'm the only one who flies a PvP Cobra Mk. IV, please prove me wrong. I run a PA (G5 eff, TLB), cannon (G5 OC, force shell), and three mine launchers (2 reverb, 1 ion). Also, 3,800 hull and 2 MRPS!
IMO you are better off having a shield and at least 1 MRP than all that hull. You'll be taking constant hull damage and your modules will give out long before your hull is in danger.
The MK IV still has the lovely flat Cobra profile that with decent use of FA-off you can keep yourself 'thin' to the most agile of enemies.