I picked up these earlier this spring as a package deal. The proverbial "basket case", the seller bought the yellow '72 in the late-70's and drove it until the bulkhead on the frame rusted through and cracked in 1983. He parked it in his garage, starting it occasionally over the next 20-years or so.
In 1989 he bought the black car(originally dark red) with a seized piston to steal the frame and part out. However, he was able to pull the engine apart and get it freed. He ordered a new piston and rings for it, but never installed it.
At some point after that, he bough a complete frame from a Europa autocrosser in Michigan. The frame has been stitch-welded, and other than some surface rust from sitting in the garage over the years, appears to be in great condition.
Plans are slowly forming at this point. I've forced myself from even touching the cars yet, as we're in the middle of a big remodel, plus a recent job loss has me scrambling to get our part-time business into full-time mode. The yellow '72 is in better condition and far more original, so I think I'll focus on it when I do have time to start. I'd like a car that's autocross competitive on the local-level, yet still street legal. Towards that end, I'm pretty well set on a Zetec swap. For the money to build the Twink up to reasonable power levels, I'm pretty confident I can build and swap the Zetec instead. It helps that I have access to running junkyard engines for $75. Beyond that, both windshields are cracked, so budget constraints may necessitate a polycarbonate windshield. No more than I'll be driving it, I shouldn't have a problem. Of course, I'll have to upgrade the suspension and wheels/tires. And I imagine the brakes at some point too. No worries though, I'm not looking for a V8 or 1/4-mile times.
As far as the second car goes, well...I'm not sure yet. It would make sense to part it to raise funds to build the yellow car, but I hate to sell anything off that I may need later. The thought of building it as a stripped-down E-mod or X-prepared autocrosser also intrigues me. Besides, it seems like quite a few are owners of multiple Europas!
Anyway, don't expect quick updates. It will likely be winter before I even get started!