I nearly bought a half finished one a few years back but I was a bit short on shed space. I reckon they are great.
some folks on here are purists and you will get some negative feedback from them. They don't like us putting Chev motors in Cobras but big deal. They are easy to ignore or you can have some fun winding them up. I think most of us are a bit more open minded when it comes to building cars. Most of us Aussies love this sort of stuff.
The only problem with the 250 GTO replica is the values of donor cars. A good 2 seater 240Z or 260Z is worth more than $20K now so it's a shame to cut one up. If I found a rough one that needed a lot of rust repairs etc I'd definitely consider it though.
There's a really good website/forum for Nissan Z car conversions and modifications. Lots of V8 conversions and suspension info etc. It might be worth checking out to help with your build.
HybridZ
Keep us posted on your build. I'm dead keen to see it develop.
Cheers