It depends on the person. I had a snooty vet guy ask if it was real and I responded with "your looking at it arent you" His face was priceless.
If I get "is it a Kit?" The answer is no it's a factory car.
If someone is smart enough to use the word replica I say "yes it's a replica, I have neither the money or the balls to drive around a half million dollar car"
I did meet a guy the other day who had an original. I asked where it was and he said "in the bottom of sanfransico bay where I ran it off the road". He then proceeded to tell me that his mother during her last days yelled at him for it. He asked her why she did not yell at him when he was 17 and wrecked it? She said beacuse then it was just a noisy car and that if she knew how much it would have been worth she would have yelled at him then.