I think Johnpro had the best advise. Set a goal you can measure such as a 12 second street car. If you build a 7 second car you won't enjoy driving it! It will be faster than most anything you'll come up against but that isn't really what you want. I think you want a car YOU restored/built that is to be respected whether it's the fastest or not. Rich kids will not be impressed so don't waist your time on them, they have no clue about reality. If you are always trying to prove something you will get into trouble, trust me. Build a car YOU can be proud of and enjoy. It has taken me a long time to learn this, I built a crazy every trick in the book car out of my first car and it was a PIA and not very reliable and it almost got me killed. It was quick and it did win it's share of races but I truly almost died more than once in that car and I grew to hate driving it because often I was walking home. One of the coolest things I've done with my mild 429 powered 67 is just look at the clown next to me like he is waisting my time and he looks like a real punk trying to show off as he peals out from the light. I drive on unimpressed, it pisses them off more than getting beat!
just my 2 cents