[cleanspeed1]

Welcome, first off, and please don't give up the Formula. You don't have to.

What you want is a way to preserve the good points, while getting better fuel economy.
You get that, and you'll be happy.

I don't know how many miles you have on her, but what would be cool is doing an LS swap with a T-56 six speed. Then mix in a twin turbo system, a 9" Ford rear with some 2.47 gears and a standalone efi system. Hmmm. Have 2 or 3 maps for whatever the mood and fuel you have, max economy, low boost, high boost, E85. Custom ground camshaft for maximum bottom and midrange torque so the mpg and throttle response is excellent. Put the turbos in the back for space savings................800-1000hp on the good juice...........240 mph+..........0-60 2.5 seconds.........go chase a Veyron..........get 30 mpg or better while off boost and driving like a good ecomodder.

Who says you can't have it all?

I went completely wrong, sorry.

What I meant to say was get the aerodynamics sorted and it may not need all that power........yes! Pull it back to 400-450hp at the tires with excellent aero and she'll fly ( no pun intended ).