As a former mini sprint racer the concept has certainly crossed my mind also. I believe JonnyHotnuts, who frequents this board is building a Fiat X1/9 with a m/c (busa?) motor, check the build diaries. Others have, or are in the process of, using a m/c motor in bodied cars here's a couple of pics. About the only problem area I can see would possibly in the clutch, but with the ability to be pushed up to speed that probably isn't too much of a concern. Also consider the Ledgends/Dwarf cars in oval racing, they use a drive shaft adapted to the primary sprocket shaft connected to a conventional rear end. And in the Lotus 7 clone world there are a plethora of BECs (bike engine cars) and are very popular in England.