Okay, to you folks who helped talk me down from the ledge, I thank you. My hand was hovering over the "BID" button but I was able to step away from the computer and take a breather. To those of you
enablers who told me to buy the car, all I can say is you are all very, very baaaaad men

So instead of bidding blindly, I sent an email to the seller asking for more pics and asking about the condition of the suspension, steering rack, brakes, title etc. I figure that can be a good excuse to stall and not BUT IT NOW.
Now as for making a Frankenferrari, I must confess that is an intriguing thought. I was assuming I'd park the thing in my back yard and slowly accumulate OEM parts to put it back together over the course of a couple of low stress years. But now that y'all mention it, an SBC would be a blast. Plus, I just happen to have a "spare" 915 transaxle in my basement. I have no idea what-so-ever what it would take to put a non-OEM motor in to Ferrari. Like wouldn't the motor mounts be totally wrong? Woudn't it need custom tranny moutns and wouldn't the half shafts be wrong? Then again, I suppose GM built the Mera and a zillion guys have built FieroFerraris. So presumably some of this knowledge is already available. But if you think driving to a Ferrari Club Meeting in a Fiero Kitcar will get you shunned, imagine what they would say if I drove up in a Ferrari with a Fiero motor...
I guess I've often dreamed of getting a 911 roller and outfitting it for speed. So the Ferrari didn't seem so far off the map.