I drove one of those as my commuter car in college but with a 351W.... TOTAL D. O. G. !!!!! Totalled it once in a winter storm, used two parts cars to fix it and then drove it for a few more years before turning it into an Enduro Stock Car... where it got totalled again (and for good) in its second season.
I think the Starsky & Hutch car was a regular Gran Torino and not the Elite. Man, I had a 1975 Gran Torino Sport in high school. 351W, red exterior, black and red pleather interior (power bench seat). That thing was beautiful. I miss it!