Yes. Good enough for me. As I understand it, Jack asked Len Terry to build him the car, Len dusted down some old drawings for the 1961 Gilby F1 car, and used these suitably updated. Terry was aware that Colin Chapman could be a bit touchy about "moonlighting" so he passed the idea on to Martin Wade, who wasn't under an exclusive contract, and he finished the detail work.
Although I have seen comments that this car was built for F5000 racing, I believe that Jack Pearce simply wanted a powerful fun car with which he could dominate British club meetings in the Formula Libre races. Chris Summers had been the dominant force with his old Lotus-Chevrolet, but this new Kincraft was purpose-built, and virtually unbeatable at the time. I saw it several times because I didn't miss a club or national meeting at Snetterton around 1965/67 - the Libre race was the last of the day, and usually the opposition was just a couple of Brabhams with Ford twin-cams, the odd F3 car, and hordes of aspiring hopefuls from Jim Russell's race school in Formula Fords. Robin Darlington was the regular driver, although Jack himself drove on occasion.