That is exactly what my car has: 292 cam, 9.5:1 pistons, 38/38 carb, slightly lightened flywheel, and tii header with ireland twin downpipe. It still gets decent gas mileage and gets along quite nicely with great throttle response and mid-range pull for passing. It does run out of breath a little above 5000 rpm but will still accelerate all the way to red line. That amount of power combined with a good shock/spring/sway bar/camber adjuster package is a well-balanced setup. As long as you don't go overboard on wheels and tires it is lots of fun because it will chirp the tires, go opposite lock off a tight turn, and drift a bit through the twisties.
Teachable moment for the kiddies -- A well-sorted 2002 will lean a bit, take a set, and then drift under throttle control better than just about any car. I have owned British sports cars of the same period and the trailing arm independent suspension on the 2002 was a revelation. When you put sticky, low-profile 7" wide tires it looks great but it loses the supple ride and raises the grip level so high that ruins the fun factor, IMO. Yes this would be another Get Off My Lawn moment brought to you by the crotchety Mr. Stephens on the corner.