...and with no lsd, so instead of the ass end swinging out if you hit the gas a lil much it'll just spin the inside tire.
...and then spin out.
My Mk2's diff really needs refreshed, it only spins one tire, and it can be downright frustrating getting traction sometimes. LSD makes driving a lot more safe in my experience, at least in snow.
Anyway, on topic, I could only recommend such a setup IF you have a good set of tools (you'll need them), patience (you'll need that too), good shoes (in case it breaks down), and a healthy job. All that aside, looking back at my driving habits and lifestyle of that age, I would probably be dead if I had had a 400hp Supra at 16. You have to have the mindset that the car WILL want to kill you and/or your wallet. It's just what these cars do, one way or another.
I'll recommend the same car I recommend for anyone with sporting intentions with a car: Buy a Miata. Try and find a hardtop (the looks are easier to handle that way, but you'll still catch all sorts of crap from friends and strangers alike) 5 speed. They can be had for relatively cheap, they're cheap to insure, cheap to fuel, cheap to buy tires and parts for, and if decently maintained, they'll last forever, even if you are hard on the car. That said, they will be a better teacher of driving fundamentals. If everyone learned on Miatas, we wouldn't have to deal with as many accidents I suspect, but that's a topic for another thread...