Clay makes a good point regarding the titling issue. But assuming the cars were priced and titled similarly, I'd probably go with the red one b/c, based on what you can see, it looks like the red one was a better build.
From looking at the engine pics, someone obviously spent more time and money putting higher quality and more correct parts on the red one. For example, the red one has the proper surge tank, the other just has radiator fill neck. Also, the red one uses a braided steel line for the fuel line; the fuel line on the other one is a rubber hose attached to a fuel log with a clamp. And don't forget the turkey pan on the red one. In my mind, these small items mean more $$ to build the red one and more attention to detail, and that's just from looking at the engine pics. Who knows what else you'd find after inspecting the whole car?
That's my .02
