Yep, that's right. I'm looking at one right now and if things work out, it'll be a 550HP TT monster fully built (long block) by SGP. Let me know and I'll keep y'all posted.
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Sure why the hell not ... bring that bad boy into the club, we can retro fit a back seat into it just so it feels like the old days 
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they never threw me out when I went from a G to a 350Z and then to a bunch of Z32s ......... current one is a Twin Turbo 1996 300ZX with around 500 hp!
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Of course, I say do it. Is this going to be a "track only" car? I think the rear doesn't have a BBK. You may want to look into replacing the rear with Wilwoods as well to balance out the car (~$1200). Just a thought.