So I Get My New Cobra, and Blam! Disaster!

[yamazee]

So all week I have been waiting for my Backdraft to be delivered from Jerry at Suncoast Cobra. Finally after all the waiting, he pulls up to the house with the Cobra on the trailer. It looks hot, I take it for a spin around the block, everything seems ok. We do the paper work, I sign the check....and off he goes. I cant wait, so I get in, go down the road, pick up my buddy and we're off on the mayden voyage. We get to the highway (about 10 minutes from home) and I get on it a little, the rear wheels break loose a little and it hooks up and goes. Wow this is friggin awsome,,,,all of the sudden I look in the rear view mirror and Holy SH*#! There is more smoke pouring out of this thing than 007's Aston Martin! I pull over, call Jerry to have him turn around and bring the trailer and get the car back. He takes it back to sarasota, and I take back my check and tell him we'll sort it out tommorow. Today he calls and tells me that his guys put the wrong oil filter on it, (a little too long of a filter according to him) and that the filter pushed something from oil pressure switch against the exhast and it melted which is what caused the major oil leak and smoke as the oil was pissing directly on to the exhast.
Does this make sense to you guys? Also what do think? would you still buy this car? Anyone have any experience with the guys at suncoast cobra? Other question I have is, the oil pressure was running at 80PSI, seems high to me, but then I dont know much about a 351 motor that has been stroked to a 392. Any input or help you guys can give would be very much appreciated.