Thinking about a rebuild

[xThermoNucleaRx]

I'm currently in college and my major is Petroleum engineering. However, alot of my classes can be adapted to mechanical engineering in some sorts. What kind materials, parts, or whatever would I would need consider if I would want to take a 86.5 N/A MKIII to a decent performance ride. ( I would like information of drifting, drag racing, or any other type of high speed/rev type of driving.)

Also, this will be most likely will be a long term ( 2-15 year) built so if possible give suggestions on the most vital part ( for me is connecting rods for ex.) you would reconmend. I am showing ladies the sights so I am replacing seat first no matter what, haha

Ultimate goal:
Not sure, but at least a 86.5 that can pull the full potential from precise tuning or at least the best offered set up for mk3.
Thanks in advance
B34R