I will try to find the picture of the car before stripes.
Was blue with gold FIA, however the gold may have been the Dow dip.

Original configuration
 

I don't think it's worth arguing about whether the car is restored or not (most "restorations" are more parts replacement anyway), as the facts are clear. But I do have some comments/opinions about aspects like the valve covers being considered original. Just going back to the early 70's to determine what SC car engine configuration is original often won't tell you a lot. Many of the cars were modified soon after delivery or experienced blown engines, at which point many things were changed. 3047, as an example, is documented in the registry as having the engine replaced by 1970 as well as some other mods. Those valve covers were made for the Cobras for Shelby American, so it is possible the car could have left the factory with them, but Jeff you already state they were put on by a dealer. I don't recall ever seeing hard evidence of even one other SC car that was fitted with them as it left SA, so that scenario would seem to be an anomaly. As with other claims of as delivered details on many old cars, more substantial evidence is generally required to refer to an attribute as being the way the car left the factory. In this case the sand cast valve covers are a neat period factory (in that respect original) optional part, but referring to them as correct is a bit of a stretch.

Hi Ned - De-restored in that it was "retrogressed" to the original paint from the newer state when the blue paint job was scraped away with blades or whatever he actually used. To me, the value of doing that was questionable because the scraped-up gold paint is nowhere near original in appearance and the car has actually been artificially made to look in worse condition than it would have had it been simply left alone. Not that it matters, but it seems to me they've molested the hell out of this unmolested Cobra.:LOL:

In a top flight Corvette for example, practically every single detail and part of a given model/year is factory documented and cataloged for reference. Re: the valve covers, etc. - can one surmise that Cobra production was much less exacting or consistent and thus leaves far more leeway in assessing "original condition"?

"Far more leeway", yes. These cars were not built in an assembly plant in Detroit. These were basically custom built hot rods and race cars.

I have said it before...If you could line up 30 S/C cars every one would have something different about them, even as they rolled out of the SAI shop in '65 and '66. If I am wrong, I am sure someone will correct me.;)

Ok, I will correct you. Every Cobra had a bill of materials associated with its build. Cars within production groups had changes in specifications as better products came on line. But there is a Materials List for the S/C cars that did not vary, except in the case of specially-ordered cars. Hence the S/C cars were all built to the same specs, using the same parts, and varying only in color or, in very rare instances, special equipment (such as "quieter exhaust" if you can imagine that).

Thanks for straightening me out Sir!:D

Interesting stuff - thanks Ned.

IMO, they are only original once, the day they are sold the first time new.

But if the car is kept in a dry environment and rarely driven, it can remain original for some time. A little dust won't change that.

A big yup there! And if you find one of them, don't even remove the dust!;)

Only if the dust is from the sixties!:LOL:

Ned,

Agree on all points was only told what I was told and that was from someone who knew more than I about that particular car as he bought it back in 73/74. Saw pictures from pre- jack and they support his story. But these changes could have occurred after delivery. Agree S/C did have a reasonable set std.

All part if the mystique.

Variations
 

Ned made the basic point well, I will just add that there were some variations, but they tended to follow typical rational related to any manufacturing operation. For example, on a small end of the scale my 427 street car had one throttle linkage rod end that was a different manufacturer from the rest, as the parts purchasing person obviously bought some from a different supplier that was functionally equivalent and they were mixed in together.

One style of steering wheel center cap was seen exclusively on early big block street cars and then within a range of chassis numbers you see those alternating with a new black style, then late production had pretty much exclusively that new style. The chassis number range where it could have been either style was obviously where the new ones were mixed in the box with whatever remained of the old ones.

Speedo reversers were used on all the early cars because when Ford engineers modified the parts list of the Galaxy toploader to make the Cobra transmission, they erroneously left the Galaxy speedo drive gear on the output shaft when they went to the shorter tail housing that had the speedo cable coming out on the opposite side. Shelby's people told AC about the issue early on and AC had Smiths develop the counterclockwise speedo to eliminate the reverser. The reverser is then accordingly absent on some cars in the middle of production with the counterclockwise speedo. Then Ford obviously caught on to their mistake and started putting the Mustang speedo drive gear in the Cobra transmissions, which forced Shelby American to put reversers back on the cars in late production.

The sand cast valve covers mentioned on 3047 were used on most of the 32XX series cars, but you will find a few early 32XX cars that did not have then because the sand cast ones were not available yet.

In some situations the buyer ordered something different that may have been done at Shelby American, but that was usually noted on the invoice so the customer would pay the extra cost. There are countless stories on variations, but the common theme is there is systematic rational for what went on that was tied to production time periods, not just random build-em as the assembly line guy wanted.