compared to your 008 the spec r would be just fine. It may not be quite the quality, but you can definitely make it work. If you want something still lower on price, but closer to those major brand high level kits, look at the CSO touring car (several guys are running them locally with success (T4 clone basically) and the Spec r R1.
I'm sure you could get your car to work, but if you have to spend $60 in parts to get it to run, and then you're going to buy $150 in spares, you're better off updating. That's $210 right there. CSO is going for about $300, Spec r R1 is going for about $290. As far as I know all current Xray suspension fits the CSO. Most guys if they broke anything, just replace with Xray parts. In my opinion you'd be better off going with that, if you want a more current touring car on a budget. The Spec R S1 will be just fine if you're trying to stay lower on budget.