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Mike's also pointed out what I think is the biggest difference between the 70's and now, the reliability of the engine. Yes the engines were a lot cheaper back then, but not only were the engines really unreliable, they were also rebuilt after every race meaning that they practically used a new engine every single time. If we did this now the material cost would be astronomical, and that's not bringing in labour costs/ time effectively wasted rebuilding the damn thing.
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