Yup, it's an FFR.
Actually, this is the second version of the car. When I originally built it it was dark green, had the obligatory headers and side pipes, and manual steering and brakes. After driving it for two summers I'd decided on some upgrades that I wanted to make.
First, it was way too loud. So, I pulled it off the road and had an under car exhaust system built for it. And since I needed to have my side pipe cutouts glassed-in, I went ahead and had the car repainted. I like the red a lot better than the green.
Also, while it was off the road during my upgrade phase I attacked some of the same issues you (rv-4mike) mention in your post. I installed a power steering rack and pump to replace the original Flaming River manual rack. Since I now had a power steering pump, I decided to bite the bullet and install a Hydroboost power brake setup. Both very worthwhile projects. And it's kind of funny how these projects tend to snowball. I'll bet a lot of you guys have been down that path, too.
And I'm getting a little jaded, but while they're not exactly common, our little group of owners here in the Salt Lake Valley is getting bigger. Plus there's a family in Provo that's building extremely accurate aluminum-bodied versions of Shelby's Cobra. (Anyone hear of a Kirkham? They just happen to own an old MIG aircraft factory in Poland that has craftsmen who can beat aluminum panels into works of art.) Anyway, I've only seen a couple of Seven-type cars on the road. Many times that number of fake Cobras.
Finally, there's something very appealing about the idea of turning 3/4" square tubes, aluminum sheets, some fiberglass parts, an engine, tranny and associated bits and pieces into a road car/autocrosser. I better learn how to weld before I get too carried away, though!