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Not a 408 but a 402, mine has held up for about 3,000 miles but that is no running at the track or trying to hook up (because i cant afford to risk it).
I just got a SS with a iron 402 and it does ok. Mainly because 1st and 2nd gear are useless on a street tire. I think it is one good hook away from sending the guts out the cover though.