Is it reasonable to buy a car that has a salvage title but has been completely repaired and checked out by a reputable mechanic?
Most techs here would be like me and say Run don't walk away, and a performance car would make it even more so.
I once purchased a Fiero GT that had a rebuilt title. Great car and better deal. I think it just depends on the quality of the rebuild. If it checks out by a mechanic you trust...go for it.