Larry, I think you've missed one very important thing. A replica is something you can actually license, outfit as you wish and most impartantly DRIVE. Therefore you can enjoy as often as the mood hits you. Putting A/C in an original would be like that woman in Spain that boched the restoration of the fresco. If you wanted to own something just to own it, collect stamps, coins or velvet pictures of Elvis.
Unless you have seriously deep pockets to acquire and original coupled with Adrian Newey level resources for an accurate shunt repair, an original is a part of history and too few of the original cars can be realistically enjoyed on the track or open road. I suppose that's why some owners of originals clone their cars to a replica something that can be flogged on a racetrack or country lane. I have thousands of miles on my CAV and you just can't buy the kind of fun I've had with it. Is it pristine or dead nuts concours accurate? Of course not, but it's close enough to be one heluva drive and one I can repair with parts from the local NAPA store without fear of not having the "period correct" nut or tail light lens. Should I somehow inherit an original or consummate the significant financial transaction from my long lost Nigerian uncle to purchase an original, I'd simply never have the nerve to put it at risk on the road. But for now, the mad trips in the CAV up back roads and occasional track days are just fine with me. The reality for CAV mono #04 is that it doesn't really matter how much I can get for it, it's not for sale and therefore "priceless".
I believe you've just mirrored (in a far more scenic and articulate way) the somewhat fragmented, condensed, and inadequately penned 'cliffs notes' I made on the subject wherein I queried, "...or do you think his primary consideration is solely to own a car he can actually drive w/o having to sweat every little knick, scratch or dent?...IMHO (that is the reason)"!
IOW, I couldn't agree more with your 'take' on replicas, sir... :bow: :chug:
My view is a perfectly rendered clone would create darned near the same level of paranoia in its owner as any "genny" would when on the road or in a show...thereby negating the biggest benefit to owning a replica in the first place - next to its cost, of course.