Unless you've got money to burn then no!
I have a mk1 vtr (90bhp std) - fitted newman ph3 camshaft, Baker BM adjustable pulley, remapped with 7k rev limit, rallye inlet manifold and throttle body, supersprint 4/2/1 manifold and straight throuigh race pipe along with a few other things, very quick off the line around 6.8-7.0 seconds flat to 60mph, it's got a printout on the rollers for 118bhp.
it's a lot of fun but for the price of all this exceeding 1.5k you may aswell 16v it unless you have a paticular thing for 8v's - it does sound awesome though!
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