Everyone here is thinking horsepower. To go fast (either 1/4 mile or track) you need much more then horsepower. $8,000 is a good budget but it should be broken down this way: 1. $3,000 - chassis and suspension repair and upgrade including poly bushings, new springs, shocks, brakes, engine and trans mounts, and some 15 x 7 rims with 225/50-15 tires. 2. $1,500 - driveline repair and upgrade including 5 speed swap, 3.90 rear, and a LSD. 3. $500 - plumbing and electric repair and upgrade including new radiator, oil cooler, and fixing screwed up wiring. 4. $3,000 - engine rebuild and upgrades to the existing L6 including mild head work, cam, modified L-jetronic fuel injection, header, and exhaust - probably 225 rwhp. This should result in a high 12 second or low 13 second Z that's reliable and safe and can be run at an autocross or an open track event.