400bhp should see the R32 off, easy bolt on for RB26DET, boost
upgrade, exhaust, induction kit.  Just not a good idea with the stock
ceramic turbos, they break at about that power.  Be OK for a few drag
races and dyno runs, grenade on the street or race track.

best place for specs is.
http://www.jbskyline.net/
R32 high aerodynamic drag, lower weight but still a 1.5ton fatty.
R34 lower drag but still not good at Cd0.34 and more weight.
Weight means that for the same BHP the R32 has initially better
acceleration than R34 up to a speed where air resistance hits R32
hard.  It may handle a bit better too. Drag means the R32 needs a lot
more power at high speed.  It's hard to strip weight out of a car,
anything you strip from a R34 can probably be stripped from a R32 so
the R32 will always have an advantage.  It's even harder to reduce the
drag, most effective way is to cut the R32 roof pillars and weld the
roof back on lower to reduce frontal area!

Reports from people that have "upgraded" and then returned to a Nissan
S platform say that the Skyline is overrated. 4wd gives excellent
traction and grip but the car does it all.  The driver can be a
complete idiot and the car will still do it.  It doesn't reward the
good driver or give proper driver satisfaction, there is no feeling of
"I did that well", just "what a car".

For track day handling, performance and driver involvement. Get a
180SX/200SX/240SX fastback, 300Kg lighter than GT-R, only 50kg more
than a McLaren F1 and CdA to match. With CA18DET exhaust, induction
kit, GrpA fuel pump, FMIC, 444cc injectors, 300ZX AFM, T28 turbo (Ball
Bearing preferably) and a Horsham Developments Stage 3 chip will give
300bhp.  If you want more power it needs forged pistons, over
350/370bhp and it needs forged con rods. One went pop with a cracked
bore at about 600-650bhp but as that was just a one off and the block
had not been selected for even bore wall thickness it's hard to tell
if that's the true limit.  SR20DET will go to 300bhp on standard turbo
and 400bhp before needing internals, goes pop at about 600bhp, fit
steel billet insert in block for a few 800bhp drag race runs.  With
just 300bhp it's acceleration on a race track will be about the same
as a 400bhp GT-R R32.  1/4 mile drag race won't be so good as it tends
to sit still and jump up and down on it's rear wheels, drill holes in
some concrete slabs and bolt them to the boot floor, lock the subframe
bushes and set it's angle right to get traction.

The Skyline GT-R's RB26DETT is not what it's cracked up to be either,
they go pop at about 650-700bhp.  To get a 1000bhp Skyline you have to
pay a lot of money for a OS Giken RB28 block, a billet crank and all
the other internals.  But even then this will eat it - a Toyota 2JZ
Nissan RS13 hybrid.
http://members.shaw.ca/kfgroup/240sx_-_2jz.htm
With the right gearing this beast could do over 280mph, with aero mods
like a flat undertray it may shade 290mph. With 1050 rear wheel hp the
R32 will only do about 230mph.  In the Supra this engine is only good
for around 259mph.