If I was starting over from scratch.
I would push to about 280bhp tops (STi figures). Upgrade the brakes and then spend as much as I could afford on getting the suspension set up absolutely sorted. Including ARB's, drop links, strut braces and the best set of adjustable coil overs I could buy.
The smart money isn't just spent on making it quick (trust me, been there, done that and wish I hadn't to a degree) it's all about stopping it quick and late and getting round corners flat and true.
I'm sure that some may disagree, but I would challenge many people to chase Neil in his Stock Evo 10 anywhere other than a drag strip.
Just my opinion for what it's worth