I also am a big fan of auto-x... I started with a stock B18B in my EG and went from there. For a novice driver, I would suggest an all motor, or a very small turbo setup. Peak horsepower isn't nearly as important as a smooth powerband and handling in this racing event (compared to drag or circuit racing) as the straights are very short and the corners are very tight. My friend has a Vortec supercharged S2000 that he tries to run in these events - needless to say he gets horrible times due to the fact he's a little too heavy on the throttle thus turning his auto-x run into a drift event.

I currently have a built LSvtec with a LS tranny, Hayame coilovers, Yokohama RT-615 tires and more chassis braces than you can shake a stick at. I chose the LS transmission because i can hold second gear for the entirity of my run. (all the way up until 60mph).