I would like to know what parts you would buy though.. I would really like to see you going all engine on this one, but I dont know (especially with out being able to enhance the drivetrain) how a GSR could chop 1.5 - 2 secs of it time with just 1500 dollars. You could go turbo but there would be hardly enough money to upgrade the fuel system, oil colling let alone an intercooler... Are you think about using all junk yard pieces???
I bet you score some sweet nugget out there on the west coast!