Good buy ya got their man , looks the part

If i where you i would
strip it out ,
weld up a diff and sell on your lsd if its going to be a track car .
stick in a 4.4 cwp ( look up ebay.com and its a 188mm one your after , keep an eye and you will get one for around 120euro)
a hydro and your ready for some track time

I wouldnt bother about coilovers unless the suspension is fucked or an exhaust or cage to start with .

Go to the practice days and get some seat time and enjoy it , then as ya get the hang of it do some mods to it inbetween the practice days .

People get too wraped up in building cars to big spec and a yr later they still havent got any seat time .