Grobbling, you're right about the thing being a monstrosity. I was on 43 when we won it earlier (1983-ish IIRC) and heard the same story re Mr Seed believing he'd bought the Schneider Trophy - it looked more like a model fairground ride with all the silver biplanes hanging on chains from the central bowl (bowel does seem more apposite, I agree). The pies were nice though...
Still, it was a good excuse for a PU and proved beyond any doubt that if the Warsaw Pact's finest had turned up in UK airspace and flown round in 30-degree-banked circles at 180 kts, we'd have gunned their brains out (provided they turned left of course).