Ok, so I have an update.
I spent last weekend in Concord working on the car with Dave Premo. Turns out the previous owner was an idiot, and did a lot of things wrong. Even his "SCCA Champion" cousin who apparently rebuilt the head f***ed things up.
The valves were adjusted backwards (exhaust lash adjusted to intake specs and vice versa), the interior was thrown together haphazardly, Stevie Wonder could have wired it better, the gas filler neck leaks, it came with 3 different locks, the air cleaner was totally absent, the rear driveshaft U-joint was toast, and some "trick adjustable camber control arm bushings" turned out to be the cause of my rear end clunk -- they didn't fit right at all. Rear sway bar is off because it wouldn't fit with the lowered suspension, which, judging by the driver rear corner, is KYB struts on Suspension Technique springs. However, considering all the other stuff that's been done wrong, I wouldn't be surprised if it was a mix n match.
I replaced the rear control arm bushings with my Energy poly units, swapped the rear U-joint with a Precision unit at the local auto parts store, did a valve job, got the air cleaner back on, and got a new right rear tire. Here are some pics taken before I got the new tire. If you look closely, you can see absurd amounts of camber wear on the driver side rear tire.
Poly butchings
"Trick camber butchings"
Adjustin the valves:
Left side -- straight as an arrow:
Other pics:
Fresh interior!
Stupid Grant wheel and stupid shift knob for sale ;D
Unforgivably restrictive 1 5/8" exhaust with dual "Nikamari" or whatever exhausts. Sounds terrible.
Lookin sexy on the 5 just north of Visalia:
In spite of all of this, the car got me safely from Concord to Calabasas. She's rough around the edges, but doesn't seem like she'll fail on me anytime soon. Works for me!
If anyone wants a video, I can take one with my phone. It's got the HD videeya capabilities!