I would have it painted a different color, and with absolutely NO Ferrari badges on it... maybe I'd put a Datsun Z badge in place of the prancing horses, just to mess with people... otherwise, I really kinda like it.
...though, the cutout area in the rear fenders... ehhh... I'd either make it an actual vent, or fill it in completely... the rear taillights could stand to be bigger, too, getting rid of those damn tiny bubble lights that belong on a bumper car.