From what i can find out, the Guidobaldi engine probably dates from the 30s while the car was built in 1951.
The car had a strange suspension system with the wheels leaning inward on corners which was patented by Guidobaldi in 1957
The radial engine has 8 cylinders which means that it has to be a 2-stroke as for a technical reason that I don't understand, a 4-stroke radial has to have an odd number of cylinders.
I've searched my library but come up with very little that hasn't already been said here.
There has been quite a lot of discussion on TNF (with photos) and there was apparently a four-page article in Sports Car Graphic magazine March/April 1960.
Reading between the lines, I have come to the conclusion that the engine dates back to the 1930s (Francois Guidobaldi first produced a radial engine in 1930) whilst the car appears to date from 1951.
Certainly one of the oddest designs for a single-seater ever produced.
I have altered the title accordingly and thank everyone for their contributions.