Thinking along the lines of a stripped-out MX-5. They can be picked up for less than a grand, and for a few hundered quid (plus some lightening) I reckon you'd have a pretty decent (road legal) tracker... cheaper than a 7/Westy, but more fun than a 205/CRX. Possibly.
Then spend a day every (summer) month tracking it, and all of a sudden it doesn't seem like an overly expensive hobby... cheaper than club racing, for sure.
Anyone have any advice/experiences??