I'm definitely going to go look at the car on Sunday and see where the guy stands. He already told me in an email he would go down to $6000 without the body kit and intake. I'm thinking if he sees $5500 in cash, he will take it. I'd really like to buy the car for $5000 as I think that's what it's worth. Edmunds puts the car with all the crap at $4600 roughly, and I'd be willing to say the condition and the features all in one car are rare enough to suggest a $400 premium. $2000, not a chance.
If I actually got the car for $4600, I'd start buying turbo parts ASAP. I still wouldn't turbo it ASAP, due to the fact I have no idea if I'll actually want to keep the car more than a minute and I have no interest taking the car, turboing it, and then selling it and losing $1000.
As for the V8, it just seems like too much work. If I had more resources at my finger tips, I'd be willing to go that direction maybe, but working with what I have, a turbo would be more manageable.