G'day hipo,
It is difficult to say whether $40k is right money for the car you are looking at for a few reasons. If your intention is to restore it, or the car needs bodywork etc, $40k is a high starting price, given the cost of getting major work done. If the car is a driver and you are going to keep it that way, then $40k might be Ok as long as the car was sound and you were happy with it. 74 Cuda's are not the most desireable of the E-bodies as they were impacted by crash legislation in the US and subsequently had bumpers that sat out further and pretty average looking plastic fill panels to cover the gaps, and 40 year old plastic is hard to work with. Of course you could get different mounting brackets and mirror the 72 appearance which is neater and this aspect goes away. Plus for the 74 is the 360 engine which is easily repaired or replaced in Australia. Another thing that might impact you with a 74 is the introduction of ADRs in 72, of which you will have to comply to get the car registered - may not be a big thing but was one of the reasons I was happy to have a 70.
Parts will be more expensive than you ever thought and most Australian Chrysler stuff is different. If you are thinking about restoring, just remember that the costs will be the same (pretty much) for an average car as for a mid-range to good car which is what I meant by $40k being a high starting price. Alternatively, if somone else has spent the money before you and is taking a loss on his resale then you could be onto a winner but hard to tell without posting pics. If the car is being sold by an importer, it may have been in his yard for a while (I have seen some cars advertised for months on end, maybe upto a year) so if he is having trouble selling the less desireable 74, then you might have room to bargain. Let me know if this is the case and I can tell you if I remember it (and won't steal it off you - one is enough
)