I hate projects. I wrench on cars simply to keep them going and save some money - it's out of necessity, not out of desire. I'm a driver and a racer and aside from silly stuff like exhausts and intakes (which, nowadays, are more for sound than performance) I almost never modify a car until I can't POSSIBLY drive it any faster, I'm pushing it so hard it stops being fun, or I'm pushing it so hard that stock pieces aren't going to work.
Tires, brake fluid, and brake pads are almost always an upgrade because even on a light car, I'll shred a set of street tires in a few track hours. I can burn up a set of front brake pads in one afternoon. These things need attention in order to keep driving it fast.
Suspension, on the other hand... I'll use my E46 M3 as an example. I tracked this car a lot. For two or three years, spring to fall, I did at least a track day a week. I did something over 100 track days with this car (I thought I had my logbook saved on dropbox but I can't find it for exact numbers). It could have benefitted from a nice big brake upgrade and camber plates, not to make it go faster, but to preserve brakes and tires. Aside from alignments, I never touched the suspension on the car. It was as-delivered from the factory for every day at the track I ever went to, and I never got passed by another M3, stock, modified, stripped for club racing, nada. Never.
When I sold this car to a friend of mine, a couple months later he did his second track day in the car and had very exciting news to tell me. "My instructor," he said, "told me I'm really close to outdriving the car and I should really put coilovers on it!"
"Really?" I asked. "Outdriving the car? What kind of lap times are you running?"
"At Blackhawk, I did a 1:28 last time!"
"I run low 1:19s in that car."
He was stunned.
I can't stand all of the useless modifications so many people do. Why in the world would to put coilovers on a street car? And why would you put coilovers on an autocross/track car unless your stock suspension can't possibly do any more for you? High performance OEM suspensions are better than most people give them credit for. Granted, some of them are crap, but the amount of M3s I saw on Ground Control coilovers with Stoptech big brake kits, stripped out interiors, vents all over the place, forced induction, even... None of them ever managed to be faster than me in my stock car.
When I get bored with a car, it's time to swap cars, not apply a patch and hope for the best. I love cars. I want to drive them and look at them and push them and feel them. If I have to get dirty to make that happen, so be it, but I want to avoid that as much as possible. For me, personally, the thrill comes from taking whatever I have and learning how to drive it right up to the edge, as much as it can possibly give me.
I would absolutely rather have the Cayman than the modified... Well, anything, really.