Ok, let's tackle your rear end question first of all. I just edited my post. I thought I found out who built your unit, but now that I look at the two there are differences. I thought it was this one.
http://www.hotrodworks.com/shopdisplayproducts.asp@id=16&cat=Quick+Change+Rear+Ends.html
Not sure if yours is a CAE or what, but it looks very good in the pictures, and complete.
Now for the value of the car. Well, for starters you have a quickchange of some sort sitting back there. Realistically, that setup would probably cost $ 2500 or so to reproduce.
The car looks pretty well built from what you can see in the pictures. Not sure I like the straight up and down steering , but even that might be ok in reality. The body is actually very cool looking as is the whole car.....I like it a lot. Not a fan of the front end setup, the ones with the spring in front shrink up your wheelbase by about 6 inches and look added on IMO. But it wouldn't take a lot to get a new axle with the spring over or behind and do that differently. Might entail cutting off the front perch and redoing it, but also no big deal.
Front wishbones look a little too long to me, they would look better terminating right under the front of the cowl, but that is just my preference. It looks overall like the car was put together by someone who knew the right way to do things.
As for value, I always look at the components on a car and ask myself what it would cost for me to duplicate exactly what is there now. The car has lots of nice touches like the windshield, bed, body, rear end, etc. I don't think a guy could recreate this car for $ 5 K. Wheels look pretty good from what I can see too.
Bottom line, if you can afford $ 5 K and you really want this car, I would say yes. If he goes lower when green stuff is waved in front of his face, that would be even better. With some very minor changes you could make this car your own and be in it pretty cheap. You also wouldn't be tied into the flathead as an engine adapter could put a sbc in there pretty fast. (flatheads are pricey to build, that is why I wouldn't go that route, but they are cool and different)
Let us know how it goes..............very cool little rod you found.
Don
Edited again: Ya know, the more I look at this little hot rod the more I like it. Even the front end isn't horrible and seems to be engineered pretty well. Just a bad*** little car IMO. Proportions and stance look nice too. I also notice California year of manufacturer black plates, which makes me think it is titled as a 28. If it has a clean title that adds into the value too.