Market 230: "Juliet Spider Velosh"!

Update 9/7/10: Well, this sad case has been reduced to an ending -no reserve met- total of $1136 after 3 bids.  On the bright side, the phrase ‘Tennessee Velosh!” has entered the Alfa Giulietta lexicon.
Update 8/23/10: This feller is back on eBay -some lucky motoring enthusiast can buy it now for $2700 and figure out what to do with it later.  Woot!
Update 7/10/10: Someone liked this enough to buy it now for $2500.  In one of the Q&A responses the seller says emphatically that this car can’t be returned to stock.  With these cars likely to be $100K by the end of the decade I’m sure some intrepid soul is hoping to prove the seller wrong.
Giulietta Spider Veloce 750F 1495*04640 (or 750F 03305), 1315*31655 (Not included). Tennessee is the home of this Spider that’s on eBay right now.  Vin on the title with the car is 03305, vin on the build plate is 04640 and the vin on the body is unknown -if I had to bet on which is accurate I’d put my money on the title.  It’s ironic/sad/frustrating that someone took a roller 58 Spider Veloce probably worth $10 – 15K of todays money, spent 6 years ruining it by altering it to fit a V8 and Toyota suspension and now are hoping to get $2500 out of it.  This is what you call a lose-lose situation -I bet they threw out the sheet metal they cut out of it too.
What do you do with something like this?  It’s probably unusable in its current form with all that weight over the front axle, way too much power for the rear end to grip and poor visibility with that scoop.
Rockers don’t look too bad, suspension is really high in the front considering it has a Chevy V8 in there.  Kind of heart breaking really.  Again, what do you do with it?
Judging by the condition of the bumper this car wasn’t too bad when pulled from an old ladies yard.
You would need a donor car to give you a trans tunnel and firewall if you decided to try and get this back to stock.  There are a lot of rare and otherwise expensive Italian classics that come up for sale with V8’s and I suppose there’s a method to follow in bringing them back.
This has been fundamentally altered and would be difficult to right if that was your aim.  Maybe get this car to make a street sleeper with a 2 liter or Milano/164 V6?
The worst thing about this is an $800 Spider from the 70’s would have supplied all necessary parts to do a somewhat easy (compared to what is seen here) conversion to more HP and brakes without destroying the value of a rare car too much.  One has to see what was removed to get this engine in here.  Firewall and inner fenders at least.  It’s probably game over if the suspension mount points were removed.
So the whole back of seat area was filled up with stuff -gas tank etc.
In the item description the seller talks about how hard Alfa parts are to find as a reason to have done what they did.  5 minutes on the internet doing research would have turned up Centerline and IAP and dispelled this idea.  If they dug a little deeper they would have seen that Spider Veloce’s of this vintage were around $40K as good condition drivers when they bought it  and as such may not have cut and welded on it with such reckless abandon.
What would I do if this was given to me?  I’d probably find a rusty donor normale and set to bringing it back… it would be a serious undertaking but for me half of the hobby is in the doing and if someone had the DIY skills to get this back to the point of being a bodywork and paint project the car could be saved but I doubt this will happen any time soon.
The way I see it the only up side here is the fact that it wasn’t hauled off for scrap, that there is a slight chance for this car to rise again, and that chance will get better as values for early Veloce’s continue to rise.