spot on aby the rear disc.gen2 2005 owner here
pro :
handling ok
got rear disc brake
con :
pick up/torque suck... sgt lembap
bad quality (2x clutch pump, 5x power window etc)
fc +/- RM80 full tank 480km
juz my 2 cent
Gen2 is a not bad car.
Maybe you could consider a Waja 4G engine.
Since you planning to tracking the car Waja have possible space to put in 4G63T engine.
try to get the latest one with better interior. The early model's interior sucks.
Sorry I can only go for the early ones. Cause my country no late one, no Gen2 CPS as well. Only got the original Campron version. :(