1. you cant see the in the rear anti roll bar by jacking the car and looking from the rear
you need to jack the car then look at the rear beam from looking just in front of the rear wheel (if you get my jist)
if it has rear disks ill guarantee it has the rear ARB.
2. you mean where the manifold/downpipe joins the centre section?
how badly rusted? worst comes to the worst you could cut the join out then make a sheath to join it again i have this on mine and have no probs
3. GMAX is a budget suspension kit (i.e. crap), is it just springs or shox also?
i run Eibach springs (25mm) raceland shox & Eibach Anti Roll Bars's, the handling is firm but comfort is not comprised, and there is naff all body roll in the car
personally i wouldnt run 16" wheels, id stick to 15's both for track & road
4. does it use braided hoses? this will give a better pedal feel, also i think the late 16v master cylinder is 21mm
at least you bought a 16v

Craig