If you want a light track car, probably the FC. For any other reason; the Supra, though heavier, to me rides much nicer, gobbles the miles up and still pulls thru the curves with plenty of verve. Get rid of the GT shocks and springs and holy shit, night and day. It does have fully independent double wishbone suspension.
Do plan on at least a stock rebuild. Like any old turbo car, it's gonna need it to be reliable and prepared. This will also solve the head gasket issue the 7m has from the factory due the headbolts not being torqued enough.
There's a ton of aftermarket, a ton of well documented swaps for the 7m, 1j, 2j, and the a couple for the Toyota v8's and GM v8's. I've continually watched parts get cheaper and cheaper for this car, though the price of the cars themselves seem to be going up. I have plents of websites and forums if you'd like to check them out. Just let me know.
If you can wait till march, my car will be back together by then. Otherwise, I'd let you ride as soon as the snow melted. However, you're more than welcome to stop by and shoot the shit, look it over, etc. It'll be out of here in a week, though and at a buddy's shop while it gets a workover from us.