I bought a mk3 16v over 3 years ago and it was and still is, a fantastic car. I wouldn't hesitate to buy another.
Although I'm rather spoilt as mine already had Weitec Ultra GT shocks/springs, Jetex exhaust and an unknown aftermarket chip, possibly ebay, possibly a blitz chip that did the rounds a few years ago.
I'd just like to add my 2 pence, as Ess Three, Tshirt2k etc have said, you won't get 175hp out of an exhaust and a chip. Not possible.
What you can get, with some fettling of the air intake (threads on clubgti showing testing), plus the chip, plus the exhaust - is a dyno proven 160hp ish + 140lbft ish. My own made 162hp & 145lbft on Garage Streamlines dyno dynamics RR. This is a very healthy increase over a stock valver - typically 150hp & 133lbft.
This has been proven to be the case on various RR days at Garage streamline, with stock valvers to provide the benchmark and modded valvers in various states of tune tested against them.
Since the airbox testing, other mods have been looked at in good detail on clubgti, including standalone ECU management and modifying of the inlet manifold and plenum (cutting, welding & testing different runner lengths and seeing how it affects torque output) - all really interesting and something I might look to in the future as another cheap mod
Probably the best mod I've done to date = lightened flywheel and VR6 clutch. Totally transforms the car into a revvy beast. Again, so cheap to do and a wonder VW didn't do it from the outset - think of all the costs saved on metal for the flywheels!
In summary, get a 16v - a VR6 is very easy to reel in, slow lumbering cruiser that it is. (dragon green mk3 in the tring/hemel/aylesbury area with VR6OC sticker in the back, you know who you are)
