Nice looking car mate, they are great motors.
Wouldn't say the engine is anly less reliable than a 300bhp Cos lump. Maintenance is the key and looking out for the warning signs. Had mine for 2 years and it's been spot-on **touches wood**
We just rebuilt my mates engine with JE Pistons, V9 Crank, Eagles Rods, ACLs ect and it only stands us £1600.
Must be a quick car at 1.5bar, my one is running standard boost but everyone who has worked on it say it doesn't feel standard.
And yes, it's Sonic / WR Blue (74f I think it is.) Here's mine for comparion: