While I was doing my 510 thing at the time, I did have contacts with several guys involved with that program. It was pretty cool, but for that kind of money, I wouldn't want a "70s stocker", but a Y2K version. Skinny tires, hub caps and all that stuff. Entertaining, but not really what I consider fun to drive. Just my 2 cents, as I'm too performance oriented for most anything stock. (aside from a new Z06, 911 GT3 or the likes)
Couple links on the subject:
http://www.geocities.com/z-car/rebuild.html
http://www.theautochannel.com/publications/magazines/sci/aug-sept-97/waywewere.frame