This is (mostly) hypothetical bench racing. But who knows, I've been known to build race cars on a whim.
The local (https://goo.gl/maps/2pwJs) ministock racing class tends to be dominated by small, 4-cylinder front wheel drive cars. A couple of Preludes from the same garage dominated at the last race we went to at Kentucky Motor Speedway. Everyone races on crap tires. I mean, like 400+ treadwear Pepboys stuff. I got to looking at the rules, and in summary they go like this:
No 2-seaters No trucks 4cylinder manual or auto, or V6 auto only (I asked for clarification, if a straight 6 auto would be OK, I was told no, must be "V") 60 series passenger tires or taller, 13,14, or 15" Quote: DOT approved passenger tires only. No “made for racing” tires, no low profile tires No cutting or heating springs (presumably blocking or clamping springs is OK) No engine mods or swaps, but intake upstream of throttle and exhaust are unrestricted.
The tiny rim and tall tire does limit decent tire choices, but you could get into a star spec ZII, or even a Advan A048 if you wanted to drop that kind of coin on something stupid like this. Unfortunately all my Chumpcar cast-offs are 50 series, so I'd have to use them on the sly (probably could though, no one checks things)
http://www.kentuckymotorspeedway.us/division-rules.html
I buddy of mine who has done this before says front wheel drive has an advantage of being harder to spin out in a rowdy pack where bumping is practically encouraged. BUT, if you're fast enough to break free of the pack, I would think that RWD would get around the track faster [assumption].
In the interest of 'keeping it real', anything suggested must be regularly available sub-$1500 in more-or-less drivable condition, and not too exotic as to not be able to find at least a dozen of them in pull-a-parts within a 100-mile radius.
Things that came to mind to me: 318i e30 manual. Shares some parts with e30 325i's I race in Chump. Shoot, I've even got most of a 318i parts car sitting under a tree. vs 318i e36 manual. Which I would have to acquire and have no parts for. and you might find a 318 convertible, as such even less weight once gutted, if you dare going out there without a proper top.
OR going a different direction,
Lincoln LS V6 auto - torquey, independent rear suspension, gutted it can't be TOO heavy, right? And I see them on the CL well within budget all the time, but usually with a busted trans.
OR find a bucktooth (4th gen) Prelude as this seems to be the preferred car locally.
Or what ideas do you have?