(personally, not a fan of the wheels.)
in the following pictures, the wiring could have been cleaned up but time may have been a factor. either way, the dash rug/cap needed to hit the road
. 
at any rate, the above project was from '07 and from what i can gather, never ran due to the fact that the former owner ran out of time, money or both and traded it for a more pragmatic, family friendly vehicle.
i don't know the details of what was hampering him from getting the car rolling but i can hazard a guess that it may have been ignition related. the 20v distributor is essentially no different from the 16v dizzy and has the appropriate wiring to interface w/ any aftermarket/alternative ignition. it will deliver the necessary information via the vr sensors in the distributor to your choice of spark unit. the main quandary would be the wiring/interfacing. but with the wiring schematics readily available these days, that should be easily remedied.
another problem may have been correct fuel delivery. at a glance, the car may have been a zenki GTS inspite of the SR5 seating amenities. only because i don't recall sr5 models coming in the blue pictured above. then again, correct factory paint on the AE86 has never been my forte. irregardless, an appropriate high volume low pressure fuel pump is a must (and close to and slightly lower than the gas tank). if the car is an sr5, then the tank would facilitate the fuel delivery. if a GTS than the tank MAY pose a problem due to the in tank fuel pump arrangement. i can neither confirm or deny that disabling (cutting power to) the in tank fuel pump will allow for the pump to act as a passive fuel pick up for an external pump. i've heard from an AE82 FX-16 owner that it works for them (completely different chassis) and from an AE86 GTS owner who attempted the same bypass method and reported it as unsuccessful and inevitably pulled the pump and replaced it with a hose as an appropriate pick up line.
anyway, that's the "short" of it. the potential is there. i'm sure there are other examples of carb'd 20v's actually working.
