Here is my project car which I owned for almost 5 years. I sold it to Joseph (jmon0261) on the board here back in early 2006. A list of the upgrades I had installed are:
Weber 38/38 DGAS carb, Pertronics ignition, Bosch blue coil, Magnacor 8mm spark plug wires, 90 amp alternator, e30 M3 starter, 5 speed transmission from a BMW 320, custom exhaust with Magnaflow resonator and Sebring muffler, 320 radiator, 320 front vented rotors and volvo calipers, H&R springs, Bilstein HD shocks, 14 inch Panasport FS wheels, Italian turn signals, "Hella type" non sealed beam headlights, 320 Recaro seats, Momo shift knob and steering wheel, and new carpet from world upholstry, I may have forgot a few things.
The car got rear ended in November of 2003. I purchased a new rear panel to replace damaged one, but have never installed it.
I also installed a whole lot of sound dampening material from "fatmat" to quiet things down. There is a set of Infinity Kappa 6x9's under the rear seat, but there was no radio or wiring. I wont lie and say there is no rust, there is a small amount of rust on the underside of the drivers side floor pan near the pedals, maybe no bigger than 5 x 5. Other than that, just the minor surface rust in the spare tire well and almost nothing else anywhere else. The car ran great, drove it from Sacramento to Palo Alto with no problems what so ever. Now its Josephs turn to fix/finish what I started...refer to his page for up to date status of the car.