If you're going to race it I'd choose a series to race in and make sure the car is prepared to be legal in that series
If you do an ARDS course to get a licence you'll get an MSA Blue Book which details the required safety equipment (battery cutout, rear red light, firewall between fuel tank & car, etc) but each series has their own dos and donts
Pretty much any track car strip thread (there are lots on Northloop
here) will detail the basics and I don't think there's anything specific to a 201 that would change basic prep
As Will said I'd replace lots of bushes. Certainly the engine mounts, gearbox mount, front ARB bushes, prop doughnuts, diff bushes, leading rear subframe bushes and front balljoints should be changed. You'll end up doing them all in time so I'd do them all up front - it'll reduce the chances of something breaking
You should be able to lose 100 Kg or so by losing the interior. If your race series allows it, perspex windows will save a lot of weight. Glass is weight that's high up in the car so there's a big benefit to removing it
If the car has a steel sunroof I'd consider removing it and plating over the hole. Those sunroof cassettes are heavy and the weight is as high up as it could be. You won't be able to race with a glass sunroof
I'd leave the engine well alone and concentrate on weight loss & handling tweaks. Wheels, tyres, brakes & pad compounds will end up being dictated by your race regulations & race conditions
It'll cost you £1000 for basic safety kit (seat, harness, gloves, suit, boots, cut-off, etc), probably £1000 (fitted) for a decent rollcage and £1000 (fitted) for the bushes & etc so what's left will have to do for wheels & tyres
The HSCC is planning an 80s Road Sports series for 2009 (see
here). I know from experience that the HSCC is a great club and that the racing is well-managed and extremely professional
You could also race with the
Classic Touring Car Racing Club in their Classic Modified Saloons or Classic Group One Touring Cars series
It'd be nice to see photos of the build. There are far too few Mercedes out there on Track Days & Race circuits!
Nick Froome
www.w124.co.uk