My old man and I turned a (arguably) classic piece of 70's motor engineering into a true track car and took it out racing with the CSCC in their 'Future Classics' series. A 1977 Reliant Scimitar SE6a. Stock with a V6 3.0ltr Ford Essex engine, 4 speed manual gearbox with overdrive, and authentic 70's velour interior, nicotine stains included.
Our big advantage here is the plastic body, no rust. We striped it down to the last nut and bolt. There was lots of opportunity to shed some weight. Windows, washer motors, seats? Don't need those.
The lot needed to be cleaned, blasted, powder coated and painted. New parts were throw in where needed and most of the proper mechanics were uprated. New suspension, brakes, new carburetor from a Ferrari 365GTC, etc.