and it was me that built that car in the pic too [well, obvously not BUILT it, but rather, prepped it], its relatavely low spec compared to a circuit racer, its a standard engine and box, totally stripped, rollover protection and race seat, internal door bars, home made wiring loom etc, set up to lap an oval race track in 19 seconds for a non contact rod formula. see www.buxtonraceway.com
[cheeky plug!!] I used to race the formula myself before selling up my stuff and buying my cinq.
edit: wheels tend to be bigger on the front to enable better gearing, its not about looks in oval racing, but car set up to get it to go round the right hand corner faster than the rest. And sometimes that means different wheels all round based on offset and width. Tyres are limited to 185/60 R14 or R13 to road spec.