For a few years now I have been considering buying a Toyota pick up (has to be a Toyota, everything else has 6 lug wheels) and building myself a "sports car" out of it for the street. If California would get with the program and go back to a rolling 30 year smog exemption I'd have done it already. They stopped at 1975 and seem to be happy there.
i'm acutally putting together the parts of this idea right now (tho less locost/sports car and more t-bucket).
btw, hilux and tacoma frames are hard to come by for good money, while a decade's worth of d21 frames are all over the place. doing a 5-lug swap on a d21 is cake...the minitruckers have been doing it for almost 20 years, now.
i'm sticking with the 6-lug route, since i'm running 18" steel wheels all the way around. with chevrolet, toyota, nissan, isuzu, moving to or staying with 6-lug across the board in the early 00s there are a lot more 6-lug wheel options out there.
Regularly losing in Class A
Soon to start losing in Class C