I believe what Chip was saying in the show was that "anybody can open a book and see a picture of a 68 Cutlass, but i want people to see this car and know that that was the car that was on overhaulin". I believe the engine guy did say in the episode that they dynoed the engine and were going to pump it up, so i belive there was some engine work done to it, but not a complete r&r. Also why do they call him "Foose", whats wrong with Chip, is it a marketing thing??