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E30 with M42 rebuild recommendations



I'm saving a well-used E30 for a rebuilding project and seek digesters' 
recommendations regarding this project.

Facts - 1991 318is, 205k, decent maintenance history, very mild mods, used 
for approximately 5 track days a year for about 6 years, otherwise a daily 
driver. No obvious flaws, not a real concours queen either. Had mild rear-end 
collision and received what I consider to be an indifferent repair last 
winter. In storage since early June.

Options - 1.) refresh (but not restore) and upgrade to be the "track car" 2.) 
sell it for $what.ever and forget about it.

Seeking - recommendations, especially from anyone who has done this or is in 
the middle of it.

TIA,

- -CL

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