The car used to be owned by a guy named Steve Cole, he is a member on TurboMustangs.com.
The car is a verified 1200 rwhp car, and it's done the right way. the engine came out of his former race car, a fox body coupe, and has a R block with all the goodies, don't quote me, but I think the displacement is somehwere around 331 or so. The turbo system is custom built, or at least it was when Steve owned it, and the turbos were remotely located down next to the rear of the engine so that they were not visible from up top.
This car also made over 1000 RWHP on E85 Ethanol.
The car is worth every penny of 25 grand.
And yes I have seen video of it not only making 1200hp, but also the 1000 on E85. I've also seen it street racing, In fact I have a video of him racing a 76mm turbocharged 347 coupe that pushes 800 RWHP. They're racing on the interstate.
I didn't realize it was Steve's car until I saw it posted at TM.com, because of the big and littles, and cage, none of which Steve had on it when he owned it.
Here are some pictures of the car when Steve owned it: (sorry for the enormous images)
Here's a picture of the turbo location, it's the same on the other side. This is looking towards the rear of the engine bay from right in front of the K member