Yeah, I remembered reading about it in either Car & Driver or Road and Track. One of the editors picked up an '84 or so Mustang GT for like $500 at a police auction and modified it to enter the CMC races. From what I hear, he didn't do too hot because he couldn't wring the bugs out of the aftermarket brakes and suspension he put on it.
I'm going to be putting together a team with some of my friends who are absolutely nuts about racing and entering in probably a years time, after I get my truck completely paid off (only 3K to go!!!)
I'd enter either a 3rd gen Firebird or an early 79-82 Fox Body (they have some of the coolest factory aero bits...)Either way I go, I've got many people who know how to work on the cars, myself included. I need to find out what the entry fees, etc. are though, I'm having trouble finding them in the rules...