LT1-Powered Ferrari 250 – What's Your Take?

A few days ago on the ever-awesome Bring A Trailer, they covered the sale of a Ferrari 250GTE (that’s a relatively unloved 2+2 iteration of the 250 model) for a “mere” $38,000. The catch? Gone is the 3.0L v12 and manual transmission, replaced by an LT-1 and 700R4 slushbox. On one hand we loves us some crazy engine swaps. On the other, we loves us some V12s. We like the idea of horrifying Ferrari purists, but…really? A 700R4? That said, the LT-1 powered example would almost certainly run circles around a pristine ’63. Maybe view it as a project car, one in dire need of some better looking vintage speed goodies and a proper transmission… What say you?