No i havn't done a 1/4 mile YET! I do plan to when we get our track back........
As for from a standing start, i have 235/40/18 streched on 9.5 inch rims on the back, so im really not getting the rubber i should to the ground, so it does loose traction! as for the mods, half of them were thee when i bought it! if you can find a 33 with pod, exhaust, Fornt Mount Cooler and Power FC you'll be on a good thing! then you will need to spend a little more on Hiflow, fuel Pump, and AFM and you'll be laughing!
There are some nice cars going at reasonable prices in the eastern states, maybe check www.carsales.com.au or something!
Just don't rush into anything that "could" turn pear shaped for you!
EDIT: Oh yeh the 32 v 33 thing! 33 may have an extra 500cc, BUT they also have some extra KG's also, so the power to weight would be pretty even id say!