Hi Kris

Just thought I would add my $2 worth on this thread.  There are two other forms of racing that no one else has commented on and again you could easily use your car for these kinds of racing.  The other thing to think of is that it could open up a whole range of possibilities and fun.  The two I mention are hillclimbs and/or Motorkhannas.  Most States have a variety of such events.  A look at the Cams calander will give listings of events.  These are usually club run events and anyone who holds a L2 Cams licence and belongs to a Cams affiliated club can enter.  The cost is cheap, and in the first instance all you need are basic things such as a fitted fire extinguisher, steel valve caps, a bonnet strap and a battery triangle.  These types of events are good training as are super sprints.

The 2nd and more expensive but not outrageous cost type events are classic road rallys, and you get to do multiple days of racing, with a mate and over many varied roads, rather than simply going round and round a race track, which from my limited experience I tend to find dull and repetitive.  Sorry ll you you guys out there who enjoy this.  It is not for me !!  An Alfetta GTV would be readily accepted.  For these events it is best to start off at the unmodified level, you keep costs down and are more likely to get a good placing.  Targa even has a Rookie Rally (3 day event) for people new to Motorsport.  These days there are a range of these events across the country including, Targa Tasmania, Rally Tasmania, The Burnie Challenge, Classic Adelaide, East Coast Rally, etc etc.  You would need a fitted roll cage, harnesses, and a distance computer (eg.terratrip or equivalent). You would need an approved race suit, boot, gloves and a helmet  But you will need all of these things f you intend going racing anyway. If you are able and prepared to do some of the work in preparing your car you can keep the cost down relatively cheap.  For instance my brother built up his 1960 Mercedes 220s for somewhere between $5-10K.  He is now building a 1930s replica Alvis which at most will cost him $15K. The Merc was a multiple class winner and placed in one year in the Classic comp in Targa in the top 30, beating many more powerful cars.   It does come down to the driver/naviagators skills in the end.  The Alvis should be very well placed in the historics class, weighing in at around 600kg with approx 200 BHP. 

My point being that over time you can always upgrade your car, as your skills improve and budget allows for and tackle the modifed classes, against stiffer competition.

Have fun anyway.  Cheers Dave