Thanks all.
The concensus is pretty much as I thought - the supercharger is both a positive and a negative - and therefore doesn't really add any value. Maurice - as Kevin says the competion ratio is unchanged from standard (according to Ninemeister's web site) and this one isn't chargecooled. Re. knock sensor, I'm not too sure.
I have subsequently found out that it was featured in 911 & Porsche World in 2003 where it was confirmed that the supercharger work, including RS clutch and flywheel cost over £8k. However the then current owner said he tracked it -the fact that it's only covered 10k miles since the conversion exactly 3 years ago may reflect this. Do you think that is an issue?
Re. condition, although I've yet to see it, according to the owner (who seems very genuine) over the last 10 years around £25k has been spent on it so it appears to have been looked after. It was last serviced in January this year at JZ Machtech - so I'll give them a ring.
Overall, I still feel that even if it is immaculate, £20k is too much for an early 964 C4, especially in the current market. I'm thinking of a maximum offer of £18k assuming it is immaculate, less if it is not - any thoughts?