50-60 grand will get you a very nice 328, an OK 348, or a junk 355.
DO NOT buy a tattered Ferrari. Parts costs are insane, and many parts (especially trim pieces) are no longer available. Reproduction parts are few and far between, unlike for our GTO's. Consider that only about 7000 328's were produced over 4 years and the repop market isn't very big. However the major parts are readily available.
A good running 328 hits 60 mph in about 5.5 seconds, the 1/4 at 14.0 and 100 mph. It only has ~270 hp and ~215 ft-lb but revs to 7800 rpm, good for 150+ mph top speed. Corners like a big go-kart. Also feels like you are going far faster than you are because your butt is only 4 inches off the ground. Also, the engine is right behind your head and sounds nothing like an American V8. The Ferrari V8 has a 180-degree crank like they use in F1 cars and it sounds like it!
I love my GTO but I think if I had to choose between the 2 I would pick the Ferrari. Every time I drive the 328 it's like a special occasion, and I end up grinning like an idiot every time I run up through the gears. Also the Ferrari makes a much bigger impact on the public. To many people the GTO is just an old car, no matter how well it's done. But the Ferrari is a Ferrari, and everyone knows that's something special.
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