The man is Ed Iskenderian. The car is his 1924 T-Bucket roadster, "La Cucaracha". He is well-known for the camshaft company that carries his name.
He may be smiling because he bought the car from a friend for $4 in 1939. It uses an Essex frame, and a '32 Ford Flathead V8. The engine has a set of Maxi "F" semi-overhead valve heads.
This car was on the cover of the sixth issue of Hot Rod Magazine in 1948.
Ed approached Clay Smith for a custom camshaft for this car. Given the long lead time quoted by Mr. Smith, Ed Iskenderian decided to give a try at grinding his own cam. And so Iskenderian Cams was born.