> The teams would go through bundles of
> parts looking for ones that most closely
> matched and were closest to the factory
> specs, etc.
This is called "Parts Bin Blueprinting" (PBB) and has been done in SCCA Improved Touring, Formula Ford, etc. for years. To give you an idea of how effective it is: On a 2.4L Datsun L6 prepared for the ITS class, this kind effort leads (along with headers, ignition, and blueprinted stock carbs) leads to a 50% horsepower gain on an otherwise stock engine. Its also very expensive to build an engine this way because of the man hours spent collecting, measuring, assembling, measuring, disassembling, etc.
To get 200 hp from a Datsun L6 using PBB makes an engine cost over $7,500.00. You can get the same horsepower levels in an assembled engine, using a cam, piston, intake, header package from Nissan Competition for $3,000.00 total. Unfortunately, the cam, pistons, and intake are illegal in ITS.
That's a good example of how rule making bodies really screw things up when they try to reduce the cost of racing.