Yep, it's true. I am now the proud owner of a 98 Contour SVT. I love it. It may not have the power the SHO had but the handling more than makes up for it. I"m very happy with the purchase.
I dont know the difference between the E0 and E1. It's the 98, not 98.5 if that's what you mean. It has the "softer wheels" and it is not silver frost. It's the red/maroon type color. I love it.