How did I miss this thread... Just be aware of the slippery slope...
I did exactly what you did, I bought a roundie with a cracked dash and a bit of rust (in my case a fender, around the trunk trim, and some around the pedal box if I recall). Bear in mind the trim holes all around the car are a superb conduit for water and developing rust. I overpaid a little but in FL rounds are RARE. FFWD 7 years and I'm totally upside down for a non-tii 2002:
We started with a new trunk lid and fender repair (more rust inside of course). Then came Rota Wheels (minilite look alike), and some suspension changes to match. Then the carb secondary was such a pain to get to work that we fuel injected it with bits of a 318 and a DTA computer. That turned it from a dog to a scorcher (same as Tii but more reliable). And since we had a donor 318 included in the purchase, added rear brakes from that car, a 5 speed tranny (must have on freeway), redid the exhaust, a tropical radiator and thermostat, bypassed the heater box (was stuck on and useless in FL), some door panel work, carpet, and recently $2000 or so of front end bushings, tie rods, bearings, an M3 Diff with LSD, Recaros, you name it - but it retains a stock look... I now have $20000 in that car and honestly it could use paint. Ouch. But my, is it fun !!!
terrible picture, still got ride height issues (although Uhaul boxes seem to be Inka orange too)
By early 911 standards, that's nothing. By 2002FAQ forum standards where people supposedly "find" superb roundies for $500 all day, it's crazy. Don't care, I love that car.
I would put it smack between a 912 and 911, driving wise. The biggest difference with a Porsche though is people's reaction to it. Could be because it's orange, but people practically kill themselves to catch up with me in traffic and give it a thumbs up or comment how they used to have one... It's a feel good car for sure. It's also super practical with tons of headroom, lots of backseat for my kids (who love it for school pickup), a trunk big enough to fit the body of your mother in law (if still alive the gas fumes will soon take care of that), it's dead reliable and with that LSD it's a hoot to drive on greasy roads.
I highly recommend getting a 2002 before the secret is out more than it already is. I love that little thing and IMO it's not gonna stay cheap long. On the Alfa GTV, yes, I'd love one of them too ;-)
I love how my exact car is featured on that cool 2 series ad from the Super Bowl ! (actually it's Bobby Rahal's car)
very cool video here:
http://youtu.be/nXSPQCl732M