If that's what you want, and you are disciplined enough to keep it at that, I'd like at a gen2, and still pit pistons and rods in it, or at least rods with a spacer to lower compression a bit.
Simple ecu flash with 3 bar map, upgraded fuel pump, perhaps a lockup clutch, and you'd be in your way.
With a gen1 you'd have to add additional Injectors with a secondary controller...or you could use something like a MaxxEcu Mini as a standalone or just injector controller. Many more practical options today than there were in say 2003
Or...go all out and build a 450hp+ street machine with a full standalone you only live once.
I'm kind of glad I dont ride anymore...I'd probably have 600hp with stock wheelbase.
John