nice buy dude,alot of potential in the 310 and easy car to work on,me id lower it to ground and leave it ha,but seriously should think about getting an a15(1500cc) motor with some simple mods for bit more power and torque,do you know what size engine its got?(will till u on plates)u can do alot to these cars on a small budget if u put the hard yards in,and you could easily spend a small fortune aswell,the thing is i dont think spare parts are as easy to come across over there compared to aus,you prbably find if you give her a good tune and spend money rebuilding your carby and fixing exhuast leaks and stuff it will go alot better.when u modify one things going to lead to another so think before u start spending,
1.depends how much power,alot of custom machine work and expensive parts needed for some decent power,and wont be very street happy.but a almost stock engine with small cam elect ign and twin carbies will push it along still,which can be done on small budget and be very reliable still.thats why most people take the conversion path, may cost you 10k aus to make an engine that makes less power than ca18det and they sell for round 1-2k,
2.some people dont like seeing good original dattos bought then cut up to fit big heavy engines in.but its your car and as long as it stays on the road any true classic guru should respect.
3.depends how good u are at replacing i spose
4.how LOW the car is to ground and how reliable main priority