I would be very wary about a converted car like this. I don't think you can fit a V8 without cutting up the front subframes. Jag is very specific about not cutting welding or anything else to the subframes, and it could weaken the car a lot. Replacements in your hands are over 2K, painting and fitting extra. However, 4.2s are not hard to come by, and the 2+2s can take the jag 4 speed w/ overdrive trannies... Still a cheap way into an E type, just be aware of what you are really getting