Simon - interesting for the 1700 cc 8v Sprint, I didn't know it was made before 1st Jan 1983. I always thought it was 84/85 similar to the series two 33, perhaps that's just the uk?
I think an answer for the ctcrc is more cars in the up to 1600 class. A 1500 sud full monty should be as good as any 1600 ford or similar.
I think you could spend an eye watering amount and still not be as quick as the primett escort (beat the v12 jag at cadwell) or the Osborne Dolomite based on the fact they are driven on the absolute limit.
If the invitation class is your destination then just go for the most powerful you can, depends if you want to score points.
The golf is interesting. I'd suggest with 170bhp, more drivable perhaps on injection than carbs, and the cash you would have spent on the extra 30bhp to get to 200 on carbs going towards Big brakes and a top notch suspension set up instead, plus losing some wieght.....well that sounds like a pretty good piece of kit. The golf would out corner the other stuff with 200bhp if done right/well. Except primett and Osborne as they are quick drivers full stop.
At cadwell, I kept in front of the 3 litre Capri and crawled all over the v8 rover in corners, the fun part was passing him.....all with 140bhp. Yes it would have been nice to have had enough power to pass the rover earlier, but it was exciting taking him into the mountain....on the outside!
If you come to sell one of your cars, it could be more valuable if it fits into the rules and class structure, rather than just invitation. If grids ever get full again, clubs might tighten up on what can enter. About 6 or 7 years ago I contacted the ctcrc to see if I could run my 1979 sud fitted with a 130bhp 1700 8v in pre 83, I was given a curt answer of 'no' and the only place They would allow me to enter it was in classic thunder as I didn't have an original pre 83 engine

. Of course that was before the last recession , before grids dwindled and before they needed an invitation class to keep the grids and finances at a sustainable level. I suspect invitation classes are here to stay, but you never know.