That's Bill Taylor in the Rounds Rocket, a 1949 Indy car based on the prewar Auto Union. It almost qualified, but was about a half MPH slow...the car was rather heavy. It was beautifully constructed, and should be in the Speedway Museum, but it hasn't been seen since '49, at least not at the Speedway...it had a DeDionrear suspension and a transaxle that was derived from the FWD unit that powered the Welch Novis. Just too heavy to handle well...there is brief footage of this car in the movie THE BIG WHEEL, which supposedly took place during the '49 500.
Dan