As for the engine, IMO you need a 3.0/3.2 as a starting base, and eventually tune it, do some modifications to it. If you want to start with a 4pot, of course you can, but in time you will want more power -> when this comes, don't go spending money on that engine, just get a stronger engine (V6 or a saab turbo).
If you want to make it fast around the track (with bends and curves, not a straight line), corrnering ability will be a major issue.
- springs/shocks - get a set of decent gas shocks (any 'next-to-cheapest' model from major manufacturers like bilstein, kyb will do), and some lowering springs (eibach or similar)-but dont go to low, some 30mm drop is more than engough.
- brakes - if you start with 4pot, you can upgrade to a V6 front disks/calipers (they are bigger) - also, get all rubber lines renewed, and new brake fluid
- bushings - usually needs renewal - for front axle, there are poly bushes availbale, but for rear there is none. Also, you can stiff up the rear end by repleacing big rear donut-bushes with solid ones (actually a piece of aluminum rod), but then you need to have this in mind when driving on poor roads.
Now, the big enemy of the speed and corrnering is the weight -> the more you loose it, the better. Also, the balance is very important, as well as reducing unsprung weights (everything in front of front axle and behind the rear axle -> you need to remove this, or move it towards the center of the car.
- bumper supports - drill as many holes on them (make it look like a swiss cheese)
- battery - relocate it to trunk (but next to the firewal, above the rear axle) and get a small-batery
- air-con - compressor, radiator, two fans in front, lines and small cabin radiator
- heater matrix, coolant lines towards it, HBV
- sound-deathing/insullation in cabin - everything below carpets, as all that insullation sums up to 20kg.
- front seats - omega seats are very heavy (around 30kg each) - repleace with lighter ones (will address this more)
- rear bench - if you don't plan to drive anybody in the rear seats, remove them, along with seat belts, and everything installed in doors (window lifters and rails, installation, disconnect the outside door-knob, remove the central locking actuator, door-lock pin and rod connecting it with a door lock) just leaving the inside door knob - you will be able to open the door only from inside.
- all unnecessary wires and installations
- airducts towards the rear of the vehicle (below the front seats, and inside the mid consolde)
- sunroof - if you have one, replace it with a metal or plexy sheet
- door cards and floor carpets - leave them in, as they all several kg all together, and car looks way better with them.
Front seats -> you can use bucket seats, which are light, and give a great support. But they are also very inpractical for every day use (hard to get in and out). Other option is to get a omega sport seats, and get rid of the adjustment mechanisms (it has several kg) by welding seat base to rail.