It's not the craziest or most extreme E30 project out there (that title could go to the 350i with its 350HP 5.0-liter V12, perhaps even to the RX-7 rotary-powered 320i), but this BMW 340is that's up for grabs on Philly's Craigslist certainly caught our attention. As stated by the seller, the 318is' factory 136HP 1.8-liter four-pot gave its place to a 740i-derived 4.0-liter V8 engine (we're guessing it's the M60 V8 with 286HP) coupled to a 5 speed manual transmission. 
The heavily modded E30 also features a limited slip differential, an upgraded suspension, M Roadster trailing arms, E36 M3 front brakes, M Roadster rear brakes, 17-inch M3 alloy wheels and a not so cool, larger double kidney grille.
The asking price for the 340is is $14,950 which may very well be justified by the work involved in the project, but don't forget that (in the States) with less than $15k you can get into the driver's seat of a M3 E36 Coupe.
Hat tip to Michail! - Link: Craigslist , Photos: AKG
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