Looks like an Ace cyclecar to me as well. Morgan actually licensed them to make the M3W and upon seeing all the good press the car was getting decided to buy the rights back to making the car and made their own. As such, its not really a replica.
This car you see is very much the early stages in the modern Morgan car we see today. The irony of it all is that no reference is given to the owner of Ace as being the one who originally came up with the modern design.
But as I understand it Larsen himself retained right to the drivetrain design?
G
