Seriously ?
 

http://detroit.craigslist.org/mcb/cto/2145546621.html

This is a 17K car ??

If the matching numbers and paperwork are legit, and all the sheetmetal work is done to high-quality standards, I could see it bringing $15K, so 17K isn't too big of a stretch.

SS396 3spd cars are kind of rare, but a 4spd would still be more valuable.

Why would the guy build up the engine to specs that don't match the numbers?

Good question Jake... I can see doing a few things to get some extra power out of it but building it to "L78 specs" would require rectangle-port heads, big solid lifter cam and a bunch of other stuff that wouldn't really make sense to do to a numbers matching car.

Also, he lists it as L34 325 hp... well, which is it? L34 was 350 HP and L35 was 325hp. My bet is that it's an L35 car, since it's a 3spd.

He claims to have a stack of reciepts for 10k .... I am thinking without the necessary paint job (5k) then it is only work the 10k he has into it.

Documentation and #s matching easily add $10K to the value... the car would be worth $5k in the midwest if it were a Malibu in that condition. (assuming the metal work is done nicely)

$15K would be an easy sale IMHO, if the documentation and matching numbers are legit.