an interesting read, esp the bit about emissions. All manufacturers suffer with this compromise, as im sure you know, and some very nice improvements can be had by returning the motor to how Mr Vx intended, not some eco Nazi tosspot behind a desk.
http://www.courtenaysport.co.uk/index.php?act=viewDoc&docId=21
A few pearls of wisdom amongst a load of speak that is designed to appeal to boy racers, IMHO.
You already have a very light flywheel, of course. It's just bolted to a very heavy torque converter.

Exhaust / induction information is based on the FWD setup which, I imagine, has a different set of compromises to the RWD.
Water wetter, plugs, leads, cooler thermostats, air filters, etc. are a distraction. IMHO
You won't need a 4 bar pressure regulator unless you're running out of flow on the current injectors.
There's no such thing as a cam that improves torque and power unless the original cam is ridiculously mild. It will sacrifice low RPM torque for high RPM torque and hence give a higher power output, but by inserting a hole in the torque curve where the engine probably spends most of its' time on the road, especially with an autobox.
I think if I were you, wanting to improve the car but not go silly, these are the things I would try. This is based purely on what I perceive to be the weaknesses in the current engine rather than cold hard facts based on real experimentation:
Make sure the engine is running perfectly to start with.
Take off the induction system and make sure the inlet tract is smooth with no "steps" from plenum to cylinder head. Leave the internal surfaces smooth but not polished.
Fit some tubular exhaust manifolds.
Experiment with ditching the pre-cats. Perhaps a pair of 3.0 cats. If that doesn't help, perhaps weld some "sports cats" in instead and try them.
Maybe have a go at some mild porting of the heads and make sure the top end is working well (lap the valves in, etc.).
Once I've finished, find someone who can map the 3.2. IIRC, SP_3.2s car has been remapped so someone has the capability. This should include tuning on a rolling road, developing a map specific to the mods I have made not just charging 250 quid to lob in a new map.
Kevin