Are we all focused on the engine and not looking at the unique front suspension setup? The upper a-arm style arms with the straight axle and a sway bar are definitely unique. I'm actually not sure if its on coilovers or a transverse leaf or something else.
I did some digging, and that is indeed Corvair Powered. It was built by Don Kendall and was orange, and was later turned into a show car by another owner who painted it the yellow in the photo and put an electric fan on it (it ran hot). I found more photos of it.
There is a thread on the porky website where the original builder/owner and the guy that added the fan and painted it yellow talk about it. Apparently it weighed 1200 lbs and was scary fast.