I think that car was for sale with DK engineering for awhile earlier this year. Various new body panels, I seem to recall reading. The brake upgrade is a good addition, as is (for the purposes of more tyre choices) the 16'' wheels. I haven't seen the car, but agree it seems to have had a few of the important issues taken care of.
There are (at least) two types of these cars - the sorted ones, which have had the regular maintenance done and those which have had some works skimped, a bit of neglect. As with our beloved Maseratis, the cost of 'sorting' a poorer example will generally far exceed the cost of buying a top quality example in the first place. I was discussing these and other 'entry level' Ferraris wth a well regarded Ferrai specialist this week and he was a fan of the 308 GT4 as a first Ferrari - but it must be a good 'un in the first place.
Yellow, well, I'm perhaps not sufficiently extrovert to go for that. They do look fantastic in dark colours, though - dark blue or black really suits their shape, imho.