depending on where you are running I wouldnt worry about turning it into a racer. They are good for running 540 or novice class. Friend of mine ran 540 with his but got his butt kicked most weeks, u cant gear it well enough to keep up with others.
Drifting is a different story I had 1 with a few little mods and a 19t Orion motor in it. Did a killer job ran a No Limit speedy in it....got one for sale if interested $30 plus some post and its all yours...think they are good till about 13t motor. Grab some simple little things like a alum motor mount and centre shaft...little heat sink and some decent drift rubber...runs all day with no issues.