I don't remember seeing this link posted here, but the online mag called MaxChevy Magazine posted this article last month, and I just now got around to reading it.
http://www.maxchevy.com/features/2008/iii_3-copo-1.html
Very cool history, and if you read all the way to the 3rd page, you might recognise the name of the shop that painted it Hugger Orange.

A COPO restored back to what it really was, a brute on the track.