I kinda had to ditch the SCCA idea, so thats out of the question now.
I do have more of a budget then your buddy, and I am kind of a purist, this beetle shall not be cut.
I think that all that I would like to do is make it fast enough to have fun in, but not some Porsche killer, and handle as good as I can get it with out spending super serious (1000s) cash on it.
I don't think that I am going to do much of a weight reduction, custom dash maybe- so I can add a tach and not have some big ol'hanging gauge sticking out- but then again if I can find a way to make it tasteful and retain a stockish interior then I am fine.
I am about half way through making it totally streetable again, the first thing that I think I am going to do though is run an electric fuel pump, along with an alternator, 12v conversion and put some seatbelts/ less crappy seats in.
I'll post pictures.
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