lifegrddude

If you're on a tight budget and want something right out of the box, in my opinion just go with a turbo 280zx. Fast enough to beat some FF cars stock, and gives a good base to do mods with. Stock my ZX turbo ran 15.3 @89. However, if you have time to work on the car, you might want to get an earlier Z and swap in a turbo motor.
John 82ZXT

lifegrddude

Yes, a turbo can be added to your naturally aspirated motor, but for the hassle, it's well worth it to just swap in the turbo ZX motor. 1000-2000 is about average, just depends on rust and engine condition. Turbo ZX's are in the 2K range, and the n/a ones are even cheaper, they don't have as much hp as the earlier ones due to smog equipment, but that can easily be removed if you're in an area where emissions aren't checked. If you're stuck in Cali like me where smog ***** are everywhere, heh, better off finding a turbo or early Z if straight line is what you're going for.
82ZXT

auxilary

FF means front mounted engine, front wheel drive. Front end kits won't make you faster than hondas though.

auxilary

check out this link, it'll help you with what to look for in a 1st gen Z:

http://www.zhome.com/Buying/1stGenWhatToWatch.html

unfortunately, the car will have to be smogged since it's a 76. California law is definitely 73 and older don't require smog, I *think* it includes 74 now (260z). For 700, I'd assume it's been in an accident, or it doesn't run as well as it should. The airdam is actually helpful on our cars, since the 240z made 80lbs of lift at 100mph in the front. Just make sure if you get an airdam out of urethane, you reinforce it like I did. Or get a fiberglass, but be weary of hitting things with it as it easily cracks.

Bleach

Not that it is relavant, but the ZX engine did not have a drop in HP. The smog equipment hardly effected it from 1975-83. The 79-80 280ZX has the same engine as the 75-78 but the plate in the engine compartment states net hp at 135 which is the same as the previous years. The 1981-83 n/a engine changed to a closed chambered head and flat top pistons. (145hp) They have a better quench and slightly higher compression. You can use those engines with your older '76 fuel injection for some better performance. The only downfall of the later ZX engines is they had round exhaust ports like the 77-78 280Z.

You could take that '76 280Z, do some work to the head, intake, exahust, and drop in a lower geared rearend. You'll have a much faster car and easily be able to beat those Hondas. Or just a tune-up and the lower rear will help with your stoplight racing.

lifegrddude

Well, I've put a big whopping ~600 into my engine in total parts and I'm running 14.7's which is enough to smoke most Hondas w/o swaps/turbos/nitrous. I haven't timed my car since upping the boost, but anyway, if you get a turbo ZXT you'll be fine with just a filter and exhaust. Don't forget a blowoff valve so you don't have lag between shifts, not to mention the surge is bad for the compressor. Just depends on how much wrenching you want to do before going out and driving. Personally if I had time and more money I'd swap my motor into a 240Z since they don't get smogged here, but I'm happy with 280ZX.
list of things: (89000 miles original motor)
msd coil-$30, HKS popoff valve-$51, K&N filter-$47, Greddy Profec B-$300, HKS blowoff-$200. I know that's a little over 600, but it's great bang for buck. My HKS muffler came with the car, but if you add that in, it'd be about 350 or so.
John 82ZXT