Building a Turbo'd 3SGE Track/Drift Car??

So I was talking with a mate about how fun it would be to learn to drift an MR2 and he put it out there to use my old crashed 91 NA and build a track only drift car out of it using the parts I'll have left over from my current build.
 
Basically with a replacement radiator and a hammer to beat the panels out the car car should be drivable, and I'd have a car I could thrash about and not have to worry about.
 
However to make it a fun drifter we were thinking of boosting it with the parts from my current turbo setup that will no longer be used after the upgrade.
 
Parts I will have lying around that could be used include:
 
-Turbo setup including intake, 50trim ct26, berk intercooler and piping, hks blowoff valve, stock 3SGTE intake and exhaust manifold, Berk 3inch Dump
- Stock 3SGTE head
- Full stock 3SGTE fuel sytem including rail, injectors, pump etc
- Tein coilovers
-Stock 3SGTE ECU
 
We would bolt these parts on to the stock 3SGE block and probably just weld the diff as the s54 is not LSD equipped.
Then we were thinking of throwing E85 in to the mix to so the high compresssion bottom end of the 3SGE doens't just blow up first thing. Obviously a standalone would be needed if we did this instead of using the 3SGTE ECU.
 
What do you guys think? Is this worth a go considering the only significant money I'd have to spend would probably be an ECU to run the E85?
 
 

For sure it will never be as easy to drift as an FR setup, but the challenge is part of the fun ;)
 
While drifting was what got the idea started a large part of the appeal is just to have a beater MR2 to have fun on the track in and do things I'd never risk in my street car!