Out of the options you have mentioned, a K24/K20A FWD setup will be the best for the SMSP track without a doubt.
I would imagine any money saved by using an old prelude engine or non-honda unit will need to be used for all the custom work anyway. Remember that you're comparing engines/transmissions that have no off the shelf conversion parts (for an EG) to ones that have everything you need already developed and readily available.
I'm sure you know about the EG that JDMyard won open class with this year, that is a good example of what can be done this way.



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