1. I'd buy a classic Mini with VTEC engine swap and updated safety doodads because of the extra power. This would be my everyday driver for spring, summer and early fall.

2. Transform my current R53 into a track car after getting my racing licence.

3. Put whatever's left over on deposit for a "sensible" vehicle I can run all year long in northeastern Canada and capable of towing the R53 track car.

 

I like that plan!! :-)

 

I like my MINI for every day. I think I'd trade up my '73 Duster for an older, nicer classic.

 

50k + R55 = nice M5

 

Hell yeah those are sick! They compare it to the E30 M3 as being "another true driver's car" and that is by FAR my favorite M3! I was talkin to this salesman at the BMW dealership here and he said all 5 they were allowed to order are already sold!

 

Would buy an '07 or '08 low mileage Cabrio S,
a MiniDoMore hitch http://www.minidomore.com/index.php
and
a MINI Tears MMT http://www.minitears.com/index

Then sell my '05 Justa Cabrio.

 

I would use some of the money to restore my Austin Mini and swap in a 1272cc engine and use the rest to buy a GP, but keep my '05

 

Sounds like most you will keep your current MINI and get another, or just spend it toward mods for the MINI.

I'm lovin' it.