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One of my mates built the GT40 engines that were in the Gulf GT40's that won LeMans. The engine was a 4.7 litre Ford V8 in the MKI GT40. This was modified for racing and was known as the Gurney weslake ford V8 based on a ford block with special heads designed by Harry Weslake and funded by Dan Gurney. This was changed many times and taken out to 5 litre and then 5.7 litres.
Saw a Gulf GT40 going hte opposite way to me on the A45 near Northampton on Saturday...WOW! Looked like a original one....but at a combined speed of 200+mph i wouldnt swear on it !
CC is right -- a 'Q' plate does not definitely mean it's a kit, it just means its age is uncertain (this often applies to kits which are made out of recon parts as the bits may be off differently-aged cars). If it had been imported from the US without any age-related documentation, it may well have been assigned a Q-plate.
A Q-plate can also be issued to a vehicle if it's owner persistently "abuses" his current registration number (i.e repeated collars for small or incorrectly spaced number plates)
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Just a guess, but I would say it probably has a Rover V8 in it, they are generally more available over here than yank iron blocks, make the same noise and are a quarter of the weight (all alloy construction). Also, the original road cars had Holley 4 barrel carbs on, rather than the 4 webers/dellortos that this car has, they are easier to keep in tune.
PS Carl, the magnet wouldn't have worked even on a genuine car, they were made from fibreglass and aluminium!