I have had a couple emails with the owner.
The car is being sold as a Kit Car produced/assembled on a non-specific date via Brian Angliss/or workers on a non-disclosed date sometime in the past. Many bizzar things 427FE, spline drive, street and S/C details. It does have LWT type bumper attachements and MKIV styling underneath but different extending frame rails, at least compared to MKIV's I have seen. It looks to be a conglomeration in styles and in need of a hefty sum of $$$ to complete. That being said the value (my opinion) would be nothing higher than a KMS w/o title or MSO in the same condition from what I can see as it is just an ally kit. The car is offered at a price that should at least get you a nice show/driver via Angliss. This sounds like one of those cars someone paid big $$ for and found it to be a fraud when the real one showed up. (I agree $35-40k range tops)
In NH it would be possible to get this registered as it is older and thus no title needed but still a task. In some states it will be near impossible to get this one legit. I wish good luck to the seller.
Would I want the car:
YES.
Is it worth the headache:
probably not for the $120K. That is unless you have that kind of money to which it does not matter.
Definately a conversation peice. BTW: the #'s on these cars are stamped everywhere door hinge, latch's etc where did they go?