Haha, sure why not? I've been eyeing craiglist lately and a lot of E36s are popping up for cheap. I'll be there on the 20th, but I'm probably driving someone else's car.
Scany- The 318 would not be my first or second recommendation for a track car, but I feel like the M42 (in the 91-95 318s) is a strong motor that can easily handle track duty. That is the car I'm looking for because I'm accustomed to having no power and I like being the underdog I guess. It will, however, be slow compared to the 6-cyl BMWs and most every other car on track. I'd look for an 87-91 E30 325, 91 E30 318, or 93-95 E36 325 as your best "cheap" bet.
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