Ray- for what it's worth...personally if I were in the market for a pre-owned 997S and a solid, well-kept example was available which happened to have a replacement engine, I wouldn't flinch a bit.

Granted I would verify that the replacement work was done by an authorized Porsche tech., and as long as it passed my own Porsche mechanic's independent PPI, it would not deter me.

It would be different if we were talking about a vintage '55 Speedster or similar where matching #'s would be integral to the enduring collector value of the car. With the 997's I don't think it will matter much.

I agree you could still raise cain with the stealer and see if you can pin them down to handing you a 'We owe' document guaranteeing your next vehicle at $2K over invoice or something along those lines.