This is a very interesting question , there have been several "replicas " win prizes at W&P show over the years . There are so many replicas out the now perhaps there should be a separate category ?
i once sold some carrier hulls to an individual who proceeded to make near complete new hulls, steering and control parts, seats, boxes fittings . These to me were replicas , but now one is displayed as a 1942 vehicle ....... Would you think this is right ...... Yes it's nice to see these replicas like the Tiger but if it's a replica say it's a replica. Also buyer beware !!
If you have done your best at saving and using what remains of a vehicle is one thing , to convert a vehicle back to a type it was at some point in history is another thing - but to build new or convert a vehicle into something that TYPE never ever was is a replica.