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His car his choice. If it has the VIN and is registered as 3097 it's still 3097. The value is totally in the hands of the next buyer. If he's a Shelby purist he'll base his offer on what it will cost him to put the car back to stock. If it's a nostalgia buyer looking to buy the car he wanted in his youth he may actually pay far above "stock" GT500 prices. Watch Resto Mods at the auctions if well done they pull more money than very nice stockers.

I personally could only afford to own one car. I needed a car that could be locked up, with locking doors and windows. So Cobras were out of the question.

They were not "cheap" they were used cars that were being offered at market value for the time - our money was worth more and we were making much less of it. A guy in COCOA wanted a Cobra. He always complained that once he'd saved enough money the car had taken it's next leap in price. He then took the money and bought some more investment property. He finally bought a FG one from Shelby Las Vegas and was happy.
In college I was driving a 54 Corvette I bought for $600. When the trans died I needed a car and swapped it for a 2 year old 1966 VW Bug. Today a #4 54 Vette is worth about 3 times what a #2 Bug is but at the time they were equal.   

..... Cars would come up really cheap when guys got married.....

Or when they were broken. I didn't have the 3 grand to buy a Boss 429 that the guy had bent a couple pushrods on. The one head intake etc was in the trunk. This was about 1974 and the car had less than 1,000 miles on it.
Bought my 70 Road Runner new in Nov 69 for under 3 grand.
New car dealers in this area all seemed to have a high performance specialist.
Clippenger Chevy had Bob Wingate - http://67fso.com/  https://www.corvetteforum.com/forums/c1-and-c2-corvettes/4324148-rip-bob-wingate.html
Russ Davis Ford had Gas Ronda. He was at Downtown Motors as their hipo salesman and Russ Davis lured him away. He brought his Maroon Tbolt along and painted it orange. He destroyed the first A/FX Mustang but since the axle broke and it wasn't his fault ford gave him another one.
Even our Buick dealer was in on the act. Pop Kennedy was there in the early 60s. He and his engine guy Jim Bell formed Kenne Bell.
The Olds dealer half heartedly tried to get some race ink when the 442 came out but being late to the game everyone had already chosen sides.

But he didn't ask about the 25 grand.......

With the insane prices for "numbers matching" car the owner would be nuts not to get his hands on the original block. IF the seller is reasonable. It is ONLY worth more to the owner of the GT350. I'd be willing to plop down a few hundred extra but beyond that - we all know that there are many restored cars with restamped blocks.
If the seller wants too much for the block using the thinking that the car is worth XXXX more with the block so I want XX of that. Then the car owner will be reluctant to pay the premium. He will still have the expense of building the engine to reinstall in his car.
Trackrat is on the right track. Buy all of it you can get. Rebuild it and store it on a stand (do it now it will only get more expensive in the future) until you decide to sell the car then install the fresh original engine.

He said the garage door was opened when it was running.  But in the clip where the car was running the door looked pretty down to me.

I noticed that too.
Since we're on air quality and garage safety I wonder if Richard will recognize the overspray in my unventilated spray booth - er garage....

Here is how to get the sand cast look back.

https://www.youtube.com/watch?v=AON73PrJZKE

Regular HiPo Mustang part. Sometimes you may encounter one that isn't the same width both directions. Those are 1310-1330. Crawl under with a tape and measure both widths and cup dia to make sure someone hasn't changed something over the years.
4635 is the number Ford used for all U joints. The C3AZ tells you the year and model used on. The last - A, B, etc may come into play C3AZ-4635 may be for a Falcon. C3AZ-4635-A could be for a V8 Falcon. C3AZ-4635-B could be for a HiPo V8 with 9" rear.
Just measure what you've got and hit a local real auto parts store.
https://www.rockauto.com/en/catalog/ford,1966,mustang,4.7l+289cid+v8,1332885,drivetrain,universal+joint,2392
You can click on the info and it'll give you the dimensions

CSX-1776

Nano Banana 2 says
1st attempt - red white and blue 1966 shelby gt350 parked by reflecting pool
2nd attempt - 3 1966 shelby gt350 parked by reflecting pool red white blue
3rd attemot - 3 1966 shelby gt350 parked nose to tail by washington monument reflecting pool red white blue
4th - create image 1970 shelby with us flag paint scheme - interesting how AI labeled the parking spot, created the side stripe & hood lettering along with a license plate.
SKYNET is near.........

Does anyone know if it has the orig motor and vin# on the aprons ?     thanks matt 978-375-0014

It is odd there is no Howard letter shown nor mention of the engine serial # or if it's even a HiPo block. "The 289ci Windsor V8 was shared with K-code Mustangs" Cagey auction talk?
I wonder if the judging sheets are still around somewhere?

[produce turn-key replicas of vehicles that are at least 25 years old]

At the time this car was produced the laws were different. SA could not legally sell a completed running driving car as a 1965. Typically the cars were sold as rollers less running gear and delivered to the customer or a SA authorized assembler to finish. Today those rules have changed and SA can build 325 complete turn key cars per year. 

Under the FAST Act, "low-volume" manufacturers can bypass certain heavy Federal Motor Vehicle Safety Standards (FMVSS) to produce turn-key replicas of vehicles that are at least 25 years old.
Volume Limit: Capped at 325 of these replica vehicles per calendar year nationwide.
Emissions: Manufacturers must use engines and emission controls that have a valid EPA Certificate of Conformity for that model year.
Labeling: Vehicles must wear a permanent label indicating the safety standards from which they are exempt and the year they replicate.

It's unusual that the MSO still exists. They are to be surrendered to DMV when the car is first registered. They are the birth certificate and the title replaces them. Or is NY a non title state that only issues registration for older model year cars?

I guess the feds have finally settled the "continuation" question. New Cobras are replicas.......

Sometimes they collect Yellow cars.....

Thats an odd statement, considering Ford did not install "Shelby" unique parts any other time....

To reduce costs, Ford began installing more of Shelby's unique components directly at the San Jose assembly line before the cars were shipped to LA for final finishing. For example, the 428 big-block engines for the GT500 and the special exhaust systems were built-in. However, the remaining interior, fiberglass, and specific trim components were still finished by hand at the Shelby Facility.

The build sheets show a conventional Mustang spring was used when building the car at the Ford assemblyline.  The Mustang springs were swapped out at AO Smith during conversion.

So despite all the bad mouthing of the Shelby American line being too inefficient and all Ford's efforts to speed up production their own Shelby Automotive wasted time and dollars by not installing them during the initial assembly.