[Dangerous Doug]

Well, if I had Jay Leno's resources I would personally choose to own a vintage Cobra---#198 comes to mind. A replica Cobra (or Jaguar, or Rolex, for that matter) wouldn't be on my buy list. I would probably be a bit of a snob, and probably only give replicas a quick glance and go look for the real vintage cars.
I've never spoken to Jay Leno, but from what I'd heard he comes across as a pretty normal guy, Without the excessive airs I'm sure I would put on, myself.
I'm thinking the commentary you heard was probably one of those "Jeez, that didn't come out right and probably offensive" moments we've all managed to slip out. I'll have to watch the episode---which one is it?