Morning,
I'm not so hot on the technical jargon but I have converted a 1988 325i for track use here on the Isle of Man. I've kept to straight forward stuff, stripped it out to weigh 1020kgs, Slipper, poly bushed it, new billi's, uprated the brakes (pads and braded hoses), Zone chip, new OMP RS seats, 5 point harneses, OMP 6 point cage and two sets of tyres.
On the track it's really good fun and exactly what I bought it for, plenty of grunt all the time, RWD sideways fun and going past cars that cost many times more money than mine. I don't mind hitting cones and can give it 101%, unlike people with road cars giving it 90% and caution. It's also really reliable and in 3 hours on track I can cover 100 miles - grinning like an idiot all the way
All in the car owes me £3k plus £1k for the car. Have a look on my website for more detail. I'm sure I could get more BHP but that would be lots more £Â£Ã‚£Ã‚£ IMO. I have found that you can easily get carried away and forget why you bought the 'Cheap track car' in the first place

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Again not really answering your question directly but wishing you good luck in your project.
If you search for 'Taffy' he really knows his stuff and would be able to technically advise you I'm sure
Cheers
Ian

The Isle of Man: No National Speed Limit, No Gatso's, No Nanny State, a disused airfield track 1.5 miles long, the best mountain road to drive on...Come and Play!