Ok, I was surprised and impressed by all the great suggestions you guys came up with.
I took the ones i liked best and thought them over in regards to how feasible they were, both mechanically and financially. One BIG concern i had was the ability to legally register and drive the project vehicle in NJ once completed. Also the initial cost of purchasing the project car came into play. (ie. a Prius is dam expensive even wrecked, 7k+, lol)
After sleeping on it to calm down my ADD, I have finally settled on a vehicle. Ironically, the car i chose was not even mentioned in this thread. It helps that its a classic already, and is a originally rwd v8 car.
The goal of the project is to have a drivetrain that shocks and amazes for the car that it is in. The car will NOT be a show car in the sense of its outward appearance, cuz it will be downright ugly. However i will take it to shows regularly and with the hood popped, it'll get its fair share of attention. Also it may not be the fastest thing on the road, but it'll be cool.
I got this car for my high school graduation, as a project then.