If I remember correctly an old issue of Zoom from about 3 years ago had a rusty old ugly looking datto 120Y with multi coloured panels etc. Running a 13B turbo and an upgraded diff of some sort to take the punishment and it ran into the 10's with a set of slicks. The finer details I can not remember.
The moral of their story was that they had scavenged up a scrappy looking 10 second car for some absurdly cheap amount of cash like $4500 total which included buying the car and engine package. How much of the story was true I don't know? and how long it lasted is anyones guess?
I say gopher it!!! There is no "easy" 10 second car though. Not unless we are living 2Fast 2Furious style and pimpin' about in our 10 second street Honda's (Like some Canberrans would like to think )
2 Fast 2 Furious is on most Friday nights at Hume, an assortment of 20 second (or slower) street cars can be seen strutting their stuff! Very impressive especially the single spinner burnouts.
My only input, small light car + decent engine. My bias would be toward the KE20/25 and something either 2L or rotary.