Welcome along.
1. If its got bent jacking points it probably has no sills, do a good search for rust under all the trims while your there check you have some floor left particularly around the bungs. floor is easy to weld up, sills are a death sentence unless you are a welder or connected to one.
2, buy one of these (port under cover by ashtray), and use the search function on this site as most of the bugs are easy fixes
http://www.talktomycar.co.uk/products/codereaders/mj002.htm3. It wont go any faster for less than £1000 (and that's not adding together you halfords bill

)
Do search this subject for endless hours of 8 vs 16v and 10 bhp from an airbox threads

4. It will look good lowered but it will handle like sh!te unless you spend £££
5. Parts are cheap, eurocarparts is your friend and you can get all your bits there, paint code is under the carpet by the spare
6. Search Vento front end and badge less grills.
7. Speak to Brad or T shirt about turbo's and 20vt conversions
8. Its better than a Mk4 and you will be unhappy if you sell it and buy one, breaking it might make you more money but is hassle for little gain if you don't have a place to store it.
That should cover you for a bit
