This is one only Mitch or someone with his skill could tackle. It would be nice to see it back on the track. I think I have seen old articles with the same lettering on the side.
I would need more than a rumor to believe it's an L78 car. I remember seeing it for sale a few times in the past. Seems they want a pot of gold for a 3k car.
Have you looked on Team Chevelle ? I think it's been discussed on there and may be again now.