When it debuted at last year's Paris Auto Show, the Audi Quattro Concept stood out among a crowd of great cars, but unfortunately it was then billed as little more than an homage to the past and a concept for future design. But now it looks like it may just see limited production.

The green light hasn't been lit just yet. An engineering prototype based on the S5 will be passed around Audi's board members for evaluation, according to Autocar. If the Quattro provides sufficient smiles--and, ostensibly, a rational business case--it could then get the go-ahead.

If it does see production, it could get a name change to R4. Whatever it's called, however, we find it hard to argue with a 408-horsepower 2.5-liter turbocharged five-cylinder engine, quattro all-wheel drive, and the car's raw-yet-refined good looks. Lots of aluminum, carbon fiber, and other weight-saving materials bring even more fun to the party: the concept weighs in at just 2,866 pounds. That's flyweight territory by modern standards.

It's also enough to score sub-four-second 0-60 mph times when paired with a six-speed manual transmission. A production version could see use of a dual-clutch to shave even more time while increasing around-town civility. Even more weight could be saved in the production version by shortening the wheelbase and lightening the interior.

Look for a possible production concept later this year or early next if it clears the executive hurdle.