For somebody with a master in engineering thats a really retarded thing to say, tax exempt is pre 1973.
Heres our old racer, our delivery driver at work built it for us, we did a fair amount of amature comp safari stuff in it. Sold it a while back to a pro in ireland. only got £3400 for it on ebay !
She was bobtailed, internal and external roll cage, fox shockers and springs all round, Ford 309 up front with a f**k off 4 barrel holley, full stainless exhaust, comp pistons, flowed heads with larger (wider) valves that didn't open very far, made it a BEAST. Internal and External roll cages, ally internal tank etc etc etc it was built to comp spec and was scrutaniered (bad spelling !) loads of times We did alot of racing with Keith Gott's as there 2 miles away from me
Oh yeah, and she was FULLY ROAD LEGAL !