A 240z is totally worthy, even in stock form. In my local chapter of SCCA there are about 5 guys running 240z's with very little money put into them. I myself took out my street preped 280z and did fairly well in it.
Also why would a 280z be okay to auto-x but not the 240z? There is not a whole lot of difference between the two. Power to weight ratio is roughly the same. Also, if you aren't looking to stay in any one particular class just drop in an L28 into a 240z and call it a day. The 240z is a great cornering car and with some minor mods can be a beast.
any other questions let me know. I've been into the old Z's for about 11yrs now.
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