this car is nice but will be expensive to mod well. For starters, lots of weight reduction is needed, but i guess if you're good at that you could do it yourself, but 3000 lbs is too much to get going. Second, the redline is low, so you'd need a lower stroke. then you'd need to lower the compression which may be helped by the decreased stroke and add a good turbo and all its fixins (intercooler, wastegate, boost controller etc).
it can be a strong contender if alot of work is put in thats for sure, but it might get expensive.