Looks like its on eliptic springs at the front with rotary dampers.
Years ago I was working up the top end of Collins street and outside 101 there was a Bugati Type 35 (or similar) in the traditional blue with the aloy wheels with the big integrated drum brakes. I must have looked at it for an hour, it was cool. I don't know if it was an original but if it was a copy it was a very authentic reproduction.
I found a pic of what I reckon it was:
Cheers