Yes that engine, or parts of it have a lot of racing history.
Formula ford used a very similar engine, the ford fiesta engine was modified slightly, to fit better, it was made shorter, mostly with different front and rear covers.
Lotus used parts of the kent engine.
Versions of this engine were used in racing or hot street cars, for many years, interesting parts are still available. Look up burton power, British. The shipping for most stuff wasn't to expensive. Some stuff is available from Pegasus, since they support formula ford.
The fiesta does have a few weak points. Front hubs and front wheel bearings. I converted to ford Ford Econobox hubs and wheel bearings, then when thee transmission failed, I adapted a ford Ford Econobox 5 speed transmission. The brakes are tiny, I still remember changing shoes, sitting on the trailer, looked at the brakes, thru the wheel, and could easily cracks on the rotor. I put fresh rotors and pads on just before that weekend. The rear drum are ok, since you want the front to do most of the braking.
Classic front drive, brake in a straight line, as soon as you turn the wheel, start feeding power. It's only stable with the front pulling, don't lift in a turn. In the rain you can learn to throttle steer.... Load it up in a turn, lift a tiny bit, let it rotate, when it's pointing the right directing, hit the gas. Pray for rain, you will suddenly have a advantage over those that spend far more money. Rain feels like ice, but you have a element of control, but it feels like you are on the edge of disaster the entire time.
If driven properly, you will often lift the inside rear wheel. You won't know but it will scare anyone behind you.