It would have been a "better car" with an Italian engine? The beauty of these and similar Italian cottage industry cars is the ingenuity of finding a suitable engine without the enormous cost of producing a bespoke unit. Sure the Ferrari V12 sounds better, but a GM small block is likely a better engine in virtually every other measure. Shame they didn't use the fuel injected 327 though.
I said it would have been better than a Ferrari :-). It’s still a highly desirable car though, sounding especially fearsome at high revs!