1st: To the OP, sorry to go off topic.
2nd: I have seen first gen DSMs go 12s on less than $100 worth of mods.
I am fully confident I could take $5000 and build a low 11 second 1st gen, no nitrous, and that includes buying the car. I will let you know for sure though. My buddy just got back from picking up a 1990 GSX Eclipse. So far he has spent $1800. That got him the car (which is solid, not rusted out), big 16g turbo, front mount intercooler, full exhaust, Apexi SAFC, new clutch and flywheel. We are going to keep track of what he spends on it. Speaking of which I need to get him to sign up on here. ( I will admit, it's not the prettiest car in the world but we will work on that too)