I'm in a bit of a conundrum about how to proceed with my Challenge build. This being my first Challenge, I've already set my lofty goals at just making it there, having fun, and not breaking/dnf'ing. But I could use some advice/guidance on choosing which of the ways I've mapped out to proceed with my first Challengender build.
The car is an XR4TI auto (plus another shell, and a hoard of parts), purchased for $350. The general plan is to clean the car up, do some basic maintenance items, rear disc conversion, cheap wheels, good tires, a couple used seats, harness bar and harnesses. Maybe add an Eaton or e36 LSD diff conversion.
Option 1, the minimal approach, total budget under $1000: work with the stock turbo 2.3, maybe swap to overdrive trans, a few performance mods, intercooler.
Option 2, 5.0 + AOD conversion, total budget ~$1200: With the money saved from modding the 2.3 and associated bits, the additional cost to do the v8 swap won't hurt the budget terribly, but it will take me out of the under $1008.50 category. And if I don't do this swap this year, I'm definitely doing it for next year.
Option 3, 5.0 turbo (single or twins), total budget $1800: same as above, but with a turbo or two. This is the ultimate goal for the car, even beyond competing in the Challenge. I've priced stuff and it's totally doable under budget. My concern here is time constraints for both build and testing/refining to make sure it's reliable. I'm also kinda concerned about being that first-time-Challenge guy that shows up in a car that's capable of competing at a level far above his own abilities.
So, there it is... what say you? I really would appreciate any and all feedback, kind, or not so much.