for the TL:DR crowd, the question is at the way bottom!
I've been setting up a BMW325IX for rallycross, but now that I've started sorting out the car I'm changing directions. I'm instead going to get the BMW "restored" to as close to stock "pretty good but not showroom" mint condition as I can get it and use it as a backup street car.
I started looking for a MkII GTI 16 valve, and there were two out on Craigslist, but both of them had some fairly major issues that had me a bit tentative about taking them home. Instead, a light bulb went off in my head. I re-read the bits about the Golf project in the magazine and went back to Craigslist. There, plain as day, was a 1995 Golf for a fairly budget price. I looked a bit closer at the pictures, did some fact checking online and asked the seller a few questions. Since it was a 3 door, had 4 wheel disk breaks, a roof mounted antenna I was pretty certain it was a sport model. My wife looked over my shoulder at the ad, said she was digging the funky plaid seats and gave her blessing to bring it home as long as I could fit one of the project cars into the garage.
I checked out the car today. There were a few things about the car I don't like: it's been lowered so the oil pan is about 2 inches off the ground, it has a fartcan muffler on it and the paint is peeling, and it has a leaky radiator (a cracked plastic end tank, I hate plastic end tanks!). Other than those fairly minor issues, it is rust free and otherwise seems fairly solid.
The seller lived on a dirt road about half a mile long. Given the car's stance, I couldn't really flog it, but it seemed to handle well, the engine pulled correctly, the transmission shifted well and it has enough power stock to spin the tires in 2nd gear on dirt. Needless to say, I'm bringing it home.
For now, I'm just going to take care of the radiator, any maintenance items that I find that need attention and fix the lowering job that was done to it with some stock springs from a local pick-n-pull. But I'm starting to look for ideas on where to go next. I searched around a bit, and there seems to be a bit too much information out there. I also scared myself a bit reading about the MkIII's notorious reliability.
Is anyone running one of these? If so, will you please post some information about or links to your setup? Like I said, we're early in the build and sorting stages but I've got a bit of information overload going on right now. I want to plan my upgrades and keep my eyes peeled for bargains, and I need a better idea of what I'm looking for.