Although is may be more appropriate in the racing section in theory, since it will be a street car up until it is not,i figure this will be a better place to bounce hypothetical changes as i learn about these.
The update...
I am actually starting to feel guilty about making this a racecar, although all of the dash lights are illuminated it goes down the road really well after a super cheapy brake job. Have put about 2000 miles on (216xxx total), and its pretty comfortable (the controls are nearly identical to the sienna i learned to drive in).
Because engine performance modifications are few and far between and the Lemons 500 dollar budget (on non safety related items) the only plan in this department as of now is to remove the fake grille from the drivers side of the vehicle and using the existing intake hosing to connect with a home made funnel of some kind to fit in the opening.
This is technically "Ram Air" (ha)
Suspension wise one of the front struts is pretty blown out but not terrible, ill be just cutting a half coil off of each of the springs to drop the car.
The real opportunity in 24 hours of lemons seems to be in the wheel and tire department, (considered safety items) there is a set of torque thrust rims available from american racing with a -11 offset (stock is +39) this should give clearance for a set of 255 40 17 skins front and rear (at least on the backside of things) i am planning on having to modify the quarter panels to accommodate the extra 2" on the outside. The extra rubber along with the low weight of the car should allow us to carry some significant speed through the corners.
Ill get to brakes when i get to them again not gonna use cheap stuff once the racing is gonna happen.
alignment wise cam bolts are cheap for the front and the rear can be shimmed, the beam axle in the rear might benefit from being boxed in in some way.
great cars ill probably have to buy one for more than 300 bucks once this one is not a street car.
ready set brainstorm....