Okay -- I was one of the first people to own a WRX when it first came out.. albeit a wagon.. in 2001 (it was an 02). I had that little 2.0 bitch pumpin out a good deal of power (444awhp, 414awtq). The secret? Forced Performance's FP series turbos.. The red
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Anyway -- that little car was a rocketship for what it was worth but an absolute PIG from a roll. It never gave me any tranny issues that everyone bitched and moaned about. Then again I never beat the everloving piss out of it. I never really truly launched it... etc etc.
Great car.. sold it for 12,700$ to a guy in NJ after having it for three years and having to get back into a foxbody for my daiyl driver.
NOW -- the sti? Sorry I love subaru and all but it is an ugly boy racer with a shopping cart wing. Not only it a total midlife crisis mobile, along with the evo, but the shopping cart handle -style wing and the copious amounts of plastic. Then add the fact that the metal they are made out of crumples easier than my plastic garbage can.. the paint is thin and crappy.. etc etc. I could go on and on. Stupid little things here and there. As for an all out straight liner and corner carver? It fits the bill.. slap on a few bolt ons and a piggyback, throw in a tune and you are hitting 400awhp with no huge issues.
I have built subaru motors -- high strung, high power (700+awhp).. tuned the bitches from utec to motec to haltech to oh-noes-im-anooB-tried-to-tune-and-blew-my-motarz-up-tech.. I have also built plenty of pushrod 5.0/5.8 and quite a few above, below and inbetween
All in all? I would go with a 5.0 for bang for the buck.. ride it till it dies.. and beat the crap out of it while hanging the front tires 5 feet of the ground..... but for rolling out from a dig... the sti is kinda hard to beat.. awd launches like a ho jonsin for crack...
If i were you -- I'd lighten the crap out of your car.. rear seat delete, light seats (cobra daytonas are real nice -- $$ though, but I have them in two of my stangs), stiffen up the body.. no need to buy subframes or 'link' bars..just get some metal stock and a welder or a friend with a welder and make your own. It also doesnt hurt to weld your body seams/reinforce them.
Now as per the motor? Hmm.. well honestly -- I'm a carb man at heart. You take a 302..and put the general combo I have in my sig into it... but isntead of the ultradyne cam. get something off the shelf maybe.. with a little less lift and duration.. and bump up the compression a bit more (9.8 or 10.0 to 1).. get some 3.90 gears.. long tubes into X pipe into catback, and add a bit of spray and you'll be walking around hot to trot.
Honestly -- with a good driver and that combo.. you'll be ready to rock around pretty well -- just stay in your powerband (2800rpm+).
-Gered.