It's not really about racing it, it's about lowering the centre of gravity and making the suspension firmer so it goes around corners better. Corners are more fun than straight line, particularly in a front wheel drive car. None of the other mods you've mentioned will make any material difference without an ECU anyway for tuning purposes and by the time you buy a decent aftermarket ECU or chip for a modern car you'll be up around $1000 anyway.
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