Thanks for the good wishes guys - owning a Ferrari has always been my boyhood dream. My first sighting of a Testarossa in 1984 at the age of 10 in Saudi Arabia did it for me. I never thought that a car could look so exotic and good. I guess I was hooked then.
Wish me luck that I can find a nice car.
Pterps - nice "GTB". Actually I am getting over the strakes in the rear - it is no longer a big deal for me. Your point of it being a handful is spot on. It is a driver's car that forces you to take it by the scruff of its neck and drive it. The lack of powersteering will make it a definite workout for my bony self.
Dani - Well buying a house earlier this year caused me to stop collecting scale models. The Ferrari wasn't even a thought in my mind till 2 weeks back.
TopgearNL - The competizione is a Europe only model - a relatively similar model is the 348 Series Speciale which has a mite more power and few cosmetic and handling related differences from the other 348s. I believe only 100 were sold in the US as a whole.
Arman - No idea about the big man's wheels before the 355. You are right about the 348 being more modern looking.
acmarttin - Well I intend to drive it at least 2-3 times a week. These cars give the most trouble if they lie unused. But I guess being a Ferrari and something that punks would like to key it or damage it, I cant take it everywhere. Also, the heavy clutch would make it a bad choice if I know I will be facing a lot of stop go traffic.
pterps - No defacation of the car will be tolerated

. I want it to look like the 348 and not some other car. The only exception would be to put 355 wheels on it - it makes the car look incredible and younger. But this is not a must have. Cosmetics must come after mechanicals IMO. Minor stuff like drilled aluminum pedals might be on the agenda though - a little bling bling
RC45 - I am researching all the Starbucks facilities in North Houston as we speak - so that I can make a poseur run.

The annual JW run will be represented by me and Ferrari. I would need to work up to those speeds though. After all I am moving from an idiot proof AWD car that a monkey can drive fast to a mid engine, rear drive car with more power and no frikkin traction control. it does have ABS though whew!
supercarfreak - Yep you got it son! If I can get a car with a Tubi pre-installed all the better. I dont think I will spend extra cash on this now. Gotta save up for the $$$$ service