Yes the Cobra is conservative, which is why I own it. Now the second question, which do you really want, a computer that will allow you to dive very often, and build nitrogen loads and be closer to the edge of the envelope and perhaps get bent (as in paralyzed for life, or dead, or just hurting for a while), or a computer that computes what you have done and says, enough?
No computer can guarantee you will not get bent. Some play it closer to the edge than others. If you want to push the envelope, the Cobra is not the computer. If you want a good computer that will do its best to give you a good day or even several days, of safe diving, IMHO the Cobra is it. In several days of repetative diving the Cobra will consider your deep tissue loads and your surface intervals. If you have had good surface intervals between dives, ok, if you had sort SI and are pushing the envelope, the Cobra will ask you to slow down or take a break. But it is for your safety. The anticipated dive profile you speak of should not be a real problem for the Cobra with the correct SI, but run the dive simulator program and check it to be sure.
I bought my Cobra after an "undeserved" hit diving Oceanic which is more liberal. DAN recommends if your doing several days of heavy diving, like say 5-7 on a live aboard, taking a day off in the middle. Seems the 5-7 days straight of diving 3-4 times a day has a slightly higher rate of DCI.
Bottom line, a hit could mean a lifetime in a wheelchair, or worse. Wtih those stakes in mind, is a conservative computer really a bad thing?
Just my $0.02.