Hm........
One option would be to just dump the money into my 1302. Leather Recaro/Sparco with harnesses and cage. LARGE T4 with a porsche shroud, turbo and IC. Quaife 6-speed universal rear engine gearbox. Forged 17" wheels with some sticky tires. Fully adjustable coil-overs all around. Carbon Fiber everything. 911 (996) gauge cluster. Ungodly brakes that'll put you through a window, Custom electric wing/spoiler/decklid from some porsche, maybe a 911 (996) Turbo. I could go on, you know...
Or, the same thing to an early T1, using 18" Porsche turbo wheels.
Or keep the Bug as-is and buy a Porsche GT2 and buy tuner parts and boost it to, oh..7 or 800HP