Those of us in the TTA community have been talking about this very car. We are 99.9% sure it IS NOT the car awarded to Emo after winning the race.
There are several TTA owners who have spoken to Emo personally and he says he still owns the car.
He was awarded one of the 3 prepped for pace duties for the running of the Indy 500. Of the 3, one went to the Indy museum and is still there, the other is still owned by Pontiac Motor Division (I've seen it personally) and Emo has the 3rd.
There was 1 primary pace car and 2 back-ups in case of mechanical problems with the primary unit. All three were identical in every respect including strobe lights which were mounted under the rear spoiler; 3 on each side of the CHMSL. Also changed was the rear glass. It was replaced with a non-defroster unit so the ABC TV camera could have an unobstructed view out the back window. Since the car had no rear defogger, the defogger switch on the dash was now no longer in use. It was converted to the on/off switch to activate all the strobe lights and was ORANGE in color (I've seen it). The vehicle on eBay has non of these modifications which indicates it IS NOT THE pace car awarded to Emo for winning the race.
It's said Emo purchased at least one (or more) after winning his 1st TTA. Perhaps it's one of his others....but it's not the actual pace car.
No, 4.3 heads will not fit on an LC2 engine.
By the way, I have up-close photos of all three pace cars sitting in Pit Row the morning of May 28th 1989...the day of the race...all 3 have strobe lights under the rear spoiler.
Thanks,