lol yea i also love the projects, people see it as a wast of time and even told me to do the same, "just buy an M" the problem is then theirs no interest or story in how you got their or "wow i had no idea you could do that!"
its kind of rewarding making something uniqe if you have the time. hey my time to me is free and the exsperience of getting one on one time with the car is pricless.
go for it and have something different and speacial!
shoot you could probably shoe horn in an N54 twin turbo in their if you want! as their the irion blocked bro of the N52.
Chip it and your in the 400HP range
or even go GT style and go fit the V10 engine in their
then their would be a show peice!