Mk2 16 valve...!
An excellent trackday car!!!...you will want to lower it slightly, and perhaps upgrade the brakes(depending on how late you like to brake!)
They handle absolutley beautifully...very presise...
The 16v works much better near the top of the revs,...so you really do need to thrash it to keep it moving quick...(but when you do boy do they go!)...8 valve has a bit more torque lower down the revs...
Performance wise...you can expect around 7.5 secs..0-60 and 130-140 top end (depending on the wind
They are very very robust cars and as you have found out you can pick up older mk2s for nothing...so parts are very cheap!...clutch/gearbox...are prob worth having a look at before you rag the pants off it on the track...!
ENJOY!!!!! )I know you will!
PS if you live in the SE...I have another mk2 golf currently for sale for 250? ono...I just need it off my drive as I donthave space...!