..................For those who have said there are fewer young people involved and believe that cost is the prohibiter, this could be a solution.............
I really doubt it would be a cost saver for a builder. It sounds like it, but I'll bet I can build/buy a motor cheaper now by picking the appropriate class than I could a spec motor and then what you would get is someone would still have mega bucks to put into the rest of the car for that little bitty edge that might get them the record and you would still only have one record holder in the class.
You can build a bike cheap now and compete, maybe not get a record, but get out there and then start building on that. You can also build a car cheap, but the safety equipment since you need more is where the real cost can come in and you would still need the expense of that same safety equipment with a spec car.
Actually lsr is probably one of the cheaper motor-sports that someone can jump into.
c ya,
Sum