2005 (Updated and maintained) as good as more recent models ?

F1 got better each year with the last years being most desirable. That’s the biggest thing I recall along with ceramic brakes being standard also in the latter years. A quick search will tell you all the other engineering and technical advances year by year.

 

The F1 pump is weak in the 2005 ..but you can change bracket , harness and pump ..actually there is ferrari upgrade kit

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The 2008 and above have software and hardware changes / addition..e.g. pressure sensor at clutch etc

The upgrade kit I was talking above will not improve shift times ..only "correct " a weak link in the 2005 .. making it more like a 2006

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2005 has the same pump as the 360 so it's not like a total oddball bad setup. Works just fine for 360 generation

 

With the addition of the Ediff demands the pump is a weak link

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I've been running the scud ing swiss relay which monitors that without issue in a 2005. I did convert to manual so less demand.

 

When I was looking for an F430 the main criteria were condition and service history (colour obviously), MY was way down on my list of priorities as these cars were 14+ years old at the time, so a lot depended on how they'd been treated.
I looked/drove quite a few before I bought the one I have, which turned out to be a 2005.

 

Attached here is a list of major assembly changes that was posted on FerrariChat a few years ago. I have actually found this to be a subset and there are many more superseded parts, which aren't on the list. The joy of a 2009 model is that you usually need to buy parts from Ferrari as many "used" parts, even simple things like the rear fender liners changed and I had to buy Scuderia ones to replace a melted one from my exhaust. The Scuderia ones are the correct ones for a 2009 F430, but aren't listed in the attached spreadsheet. I have found a lot of Scud parts are the correct ones for my car and not the parts from a 2005 thru 2007.

So it would be cost-prohibitive to convert a 2005 to the updated latest model, but you can update the key things like F1 relay/pump and replace the headers other items just aren't worth it for most people.