1) I'll support a few things said above. In two Japanese events I've attended, the stock or nearly stock cars hardly got a second glance. The Highly modified cars with engine swaps got all the glory. Not to unexpected really...
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2) In local "all marque" shows, the humble Nippon cars don't win big honors, but ARE beginiing to see more recognition. Let's face it, judges looking at "best foreign car" will almost always be charmed by a sweet XKE or Healy as opposed to a classic Z. Z's are still too "familiar"... If I were judging, I'd probably do the same thing, especially if there was a pristine XK120 on the field...
That said, my little Z did win a "sponsor favorite" award last year at a local show and got lots of positive attention.