Take 1 Jaguar XJS (non-runner). Take 1 4.0l AJV8. Mash the two together with a helping of manual gearbox and ITBs. Hey-presto 1500kg 350bhp GT with near 50/50 weight distribution...

Same power, lighter weight and better economy than my idea for a V12 E46 M3-fighter. Loses the cool of twelve cylinders, but still has a meaty soundtrack.