Other ideas were to build an E30 BMW, build a crazy STi or Evo, all kinds of stuff. Perhaps pick a new platform like a BRZ and see how far the rest of the money can take you.
I don’t know what I would build, but I have a feeling there are a lot of other cool ideas out there.
I know it sounds stupid but I’d build my Fox Mustang. I’ve always been a fan of old cars with newer factory parts/tech, so a Coyote/6speed drivetrain would be match up with the current IRS. Would stretch the wheelbase 5" by moving the front wheel forward to help get a 50/50 weight distribution. Gut the horrendous interior and go ground up in there. End goal would be a tight daily driver void of the squeeks/rattles/bullshit that plagues 70’s chassis cars. I just want to enjoy driving this car again.
The other one would be the '55 Chevy. The first ‘build’ was too budget oriented (hence the LT1), and in the end the car doesn’t drive out as great as what an LS drivetrain sitting on a Roadster Shop Chassis would offer. This leaves about $5-10K to spend on some interior upgrades, and a proper set of wheels tucked nicely in the wheelwells.