So I picked up the new hotness last night, I was looking at this car last week (as documented here http://oppositelock.jalopnik.com/npocp-1978-vol…)
And boy, is she a beauty: (apologize for crappy cellphone photos)
It's a 1978 242 with a 16V DOHC B234/230 swap. The entire suspension has been replaced with coilovers in front and sport springs in back. Almost all of the work was done by Cameron from ipd who documented it in a giant build thread here:
Here is a video talking about the swap:
I'm pretty excited. I'm not planning on doing much to it for now, this is a weekend cruiser for me for the foreseeable future. At some point I'll probably work on the interior a bit and maybe have it repainted (still beige of course). Now I just need to hope it passes Texas safety inspection...