Good points Greg
If that were my bus, I'd put in a warmed over 2056cc T4 (140 hp) but built for torque + EFI/DIS, install the 923 5 speed and lower the bus.
I'd install a boxster 24mm x 298mm disc brake kit, but use Lanners custom hubs on the stock bus bolt circle. I'd then find another set of stock rims and have those widened to 15x7 and 15x8.
That should make the bus fun (and safe) to drive, while looking pretty stock too
My .02c
Sandeep