Not really Wayne. R32 prices dipped down to 4k and have recovered to a starting point of 6-ish. Maybe you not thinking the R32 is an exciting Golf is where you are going wrong.
911 values haven't been solid for years. There is tremendous variation over time. Not so long ago 964's were dirt cheap now you are looking at 20k. A great 993 could be yours for 20k not so long ago but now you need more like 30+. 996 Turbo's have recovered at least 5k in the last year. Conversely, 40k on an early 997 maybe 3 years ago would now be 25k.
Why are you so sure a mk4 R32 wouldn't be a wise investment? Limited run, distinctly different look, many ruined. Keep it standard and give it a few years.... who knows.
What are your suggestions for something more 'worth the money'?