I've been running a 300ZX in SCCA since 1995. The 300ZX is too heavy w/too little hp to run with the BMWs etc that are racing ITR. Like someone said earlier, you haven't got enough money to pull the 300/325 hp you'd need to reach 1hp/10lb to compete. ITR rules also require "stock brakes" (not even drilled rotors are allowed). A properly prepped Z is a handling dream (areodynamically superior too!) But ITR is the wrong class for you.
I think you'll find that the ITR rules aldo call for a Race weight of 3250 lb without the driver - the SCCA listed stock weight. You certainly can get 2750lb without a roll cage, but you can't (and shouldn't even consider) running IT without a full-strength cage. Mine is 2870lb (w/out me) with a full NASCAR-type cage (you don't want to hit a wall at 120mph much less 150mph without that protection, and you sure don't want to get hit by another 2,500-3,000 lb car without that much protection). That said, do you think your 3250lb/250hp Z stands a chance against a 2900lb/325hp BMW? ITR is the wrong class for you.
That said, if you want to run it, prep the body/suspension for ITE - once you get the handling set, swap in a 4.5L V-8. The transmission adaptor ring is the only trick piece there - but prep the car first! Don't do engine stuff while you're sorting the car out!!
I've got some photos at
http://unclejoe.com - and we just won two races at the California Speedway. The V-8 is next ;]