That is actually a VERY rare find. Very few of these srivived the 70s and 80s as once they were used up and or wrecked, they got thrown away. The Direct Connection Kit Car program was a legit factory offering. They were offered in several levels. As a kit of tubes that you assembled with your suspension parts, which this one appears to be, as a kit welded up with suspension intact, as a roller, as a driver with engine and fuel cell, or complete with a body. From the factory they were only offered with duster, dart, or aspen bodies.
The original Kit car, it was skinned as a Challenger, was developed by Petty Enterprises and could be bought over the counter. Cool stuff like a nascar spec 355 W2 motor to speedway style quick change rear ends were options in the package.
As far as what ot do with it, restore it. It is old enough now, and some of those welds look pretty suspect, that I wouldn't want to actually race it. It would only be any good in an entry level hobby stock or street stock program anyway. Guarentee taking that to a show would get you A LOT of attention.
