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When I lived in the UK my Dad and I put a 3.5 Rover motor into one with a 5-speed transmission. The V8 actually weighed less than the iron 4 and it made for a nice quick car. My car was a '75 so the engine bay had been already slightly modified to hold the V8 as MG were making the GT version by then. Anything bigger than the Rover motor sort of defeats the point of balance and practicality - if you can call a 45 year old British sportscar practical.
But I think your original point of Porsche prices getting away from normal Joe's is well taken. Maybe fun cars like these will start to become popular again for low cost tinkering. I would not mind making a Sunbeam Tiger replica one day as Alpine's are dirt cheap as are 289 V8s
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'72 Norton Commando,
'47 Sunbeam S7
'14 Tacoma
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