Video:
First start: http://www.youtube.com/watch?v=FIfLgFaOXZI
First drive: http://www.youtube.com/watch?v=KKM4_y5clsc
Chassis and body: Made by Backdraft Racing (http://www.backdraftracing.co.za/)
Suspension: BMW E36 (power steering)
Engine: 5.3L V12 HE 12.5:1 CR Mechanically standard
Gearbox: TH400 3 speed Auto with shift kit
Injection: Port injection (12 x low impedance injectors, 6 per injectors per output)
Spark: Dual EDIS-6 systems with blue 8mm Magnecor HT leads ( with "DESC" module to re-time SAW signal for B-bank)
See: http://www.youtube.com/watch?v=IXVVkrybNpg
http://www.youtube.com/watch?v=E7AiwIb-R08
ECU: MS-2/Extra 2.1.0d on V3 board with continuous Baro, dual WBOs. Controls spark and fuel.
Other features: Adjustable driver seat; functional cold air intakes at "gills" behind front wheels;
Comment: I bought the car with complete chassis and body. Needed to install engine/gearbox, steering, electrics and dash.
Other MS projects::
Land Rover V8 4.6 : viewtopic.php?t=17941
Land Rover V8 3.9 : viewtopic.php?t=22468
17 Jan 2010
Now the power steering also works! Turns out it was the pump with a problem.
15 Jan 2010
Now its been up to 150km/h...
Still trying to spare the engine with those fresh big-ends. Turned out it was not the wheel bearings but the stud nuts being too long and bottoming out in the recesses in the wheel. Cut their heads off and now its sorted. Took it for wheel alignment and found that the rear wheels have excessive toe-in and not being able to adjust it without first grinding out the suspension mount bolt holes = more work. 
11 Jan 2010
Took the car for two drives today. Fastest its been is 100km/h, and highest rpm = 5000rpm (very briefly). When it gets to 2500rpm "things start happening "
Kickdown on gearbox also works. Right front wheel bearings need replacement (suspension used and stood for 3 - 4 years). Need to buy 46mm socket to do that. Will replace both sides. Engine seems to become livelier as time goes on. Diff ratio is a bit too tall for my liking: 100km/h = 2200rpm. Will investigate availability of higher diff ratios. Busy making a new injector harness with connectors bought from DelCity (US).9 Jan 2010
Today the V12 started! It started surprisingly quick and with very little drama and smoke. I having oiled the sleeves well before refitting the heads I expected quite a bit of smoke but there was not much.
So, the exhaust valve on #4A was stuck open and my attempt to "fix" it resulted in breaking the valve which of course I did not know, so I attempted to start the engine. After only half a turn, it jammed solid. That's when I realised that the valve had not jumped back but had in fact broken off. Only when I removed the head did I see that the broken valve had also punched a hole in the piston
Fortunately I had a "scrap" HE engine on hand so I used a good piston from that engine with the original 4A rings...
Now I still have to get the power steering sorted and the gearbox. Gearbox fluid level is very low (below dipstick tip) so there is hope that once I top it up, I'll have drive.
14 Nov 09
We'll, as you can see in the video, it started.... but.....
It was only running on 9 of 12 cylinders. After a long search, I found that cyl 4A had 0 compression due to an exhaust valve stuck in the wide open position (visible through the spark plug opening). This seemed to affect cyls 5 and 6 as well since they appeared dead as well. In trying to get the stuck valve unstuck, I managed to break the valve and now I have to replace the heads with reconditioned heads I took off a scrap engine I have (fortunately). This work will only be done 2nd half of December 09.
13 Nov 09
The car is ready for "the start" on Saturday. Tomorrow I have to :
1) reroute the fuel return pipe;
2) check brake lights;
3) open up idle air screw(to ensure high idle speed when starts - for quick oil prime and pressure)
4) think what else I've forgotten
10 Nov 09
Hoping to start the car on Saturday 14 Nov 09. Still need to do a few things and test all electrical systems
Art