Budget S13 suspension options for Chumpcar

[RSready]

My team is entering a double-7 enduro Chump Car race which is taking place in May and we're putting together an S13 for the race. As you may know, for the race series, the car has to have a value of $500. A 240 is valued fairly close to $500 so we're pretty restricted on what we can do. We can't put brand new coilovers in the car or even new struts and springs, because that will take us over the $500 value and we'll be penalized laps. So here are our options as I see it:

1. Leave stock struts and springs in
2. Buy cheap eBay coilovers (I'm talking about the ones less than $50)
3. Cut the springs
4. Other???

This is our first Chumpcar race so our goal is reliability. We want to finish the race. That being said, I may have answered my own question - stay stock.

There are a surprising number of people who cut their springs for these races, but I want to know, are there any real benefits? Sure the car is lower, but does it improve handling at all, or does it just throw off the geometry and make it handle worse? The same goes for the cheap coilovers... anyone been brave enough to try them? We don't care how the car looks, if it's low or has a 4x4 stance. We just want it to handle as good as possible without spending money because, even though we have money, we can't spend it.

Thanks in advance for your opinions. Don't flame me because I mentioned cutting springs. I'm not some douche who wants to kill ants with my front bumper.