Know of this car, was originally assembled with 427 side oiler etc 15 years ago, then pulled apart to detail etc. It was never complied.
Since then emissions laws have caught up with it and I think it would now need to be setup on gas to get through rego even with that 302. It's not compliant yet, but I've heard it's currently going through the hoops for rego. Also side pipes will need to be removed and underbody system fitted, steering wheel changed, padded dash added, speedo changed, side indicators added, seat belt warning light, seat belt warning labels, head rests, high-level brake light, reverse light, reflectors etc. etc.
It's had a lot of money spent on it, in excess of $200k is what I have heard. And a LOT of time.
It's also had offers close to that $140k figure.
In my opinion it would be worth a lot of money or a lot more desirable if it wasn't baby blue. A more traditional Cobra colour would suit it as it's a very original build.
Also notice that original Cobra indicator stalk from VW. Now that's keen.
I personally would love to have a Robnell, later model unit than this one with big block and Stefan's make over.