The problem is with a tight harness you get whiplash if you're in a wreck. That's why race drivers have either neck braces, or elastic straps bolted to the helmet, or both.
The beemer seems to be in pretty good shape from pictures. I just don't know how they could fit an airbag in that tiny steering wheel. And I'm not a firm believer in monstrous power in a small car (although it is nice just for the OMFG factor
). 170 in such a small car is good, and I have seen the aftermarket offerings... wow. Seems like it would be easy to make 200.
I'd probably just try to track down some decent Sparco street seats because I'm not a huge fan of Corbeau and don't have the moola for Recaros, lol. But then again, the car would be for little bro so we would get a seat that fits a tall skinny dude best. It needs to fold since it's a coupe.
Oh, and street legality in Alabama? LOL. You can run straight pipes out your hood for all they care.