Mixed emotions on this particular example. To your point, it was clearly done to a high level during a time where few (if any) 240Z's were restored to this level at all - and for that, it certainly commands the accolades it has garnered over the years. I'd guess it will match it's previous sale point +/- a few thousand. Whether or not the seller will let it go for that price point remains to be seen.
The early 240Zs are special to me precisely because they have so many special first-year-only parts- parts which may appear the same to most enthusiasts, but on close inspection have their own unique characteristics. Unfortunately for this car, much of it's "early car-ness" has been replaced with s30-correct, but later MY replacement parts. So for me, much of what makes the MY1970 so collectable is no longer present here. That said, I'd say that 99% of the Z community probably wont notice or care.
Even taking your post on judging guidelines into account, I could foresee a non-zero possibility where this car would show up to a concours where there was another top MY1970 car, with all it's MY1970 parts still attached, and a really knowledgeable Judge may rightly place this Franklin Mint example below it in a tie-breaker because of it. An additional $10-$15K spent on sourcing many of the correct MY bits would go a long way to alleviating that worry. Even with my own nitpicky standards, I think if I purchased this car, I'd probably leave the hood as-is, and just replace all the newer parts with as many MY1970 parts as I could source. It appears to be a fantastic example, and worth this exercise, IMHO.
Such is the challenge- and potential reward- of properly restoring an early car to the highest level.