Welcome to Just Commodores, a site specifically designed for all people who share the same passion as yourself.
Good trade. Looks great! Would go alright too!
In all honesty Jonah, I'd spend the money on all suspension, drive train and brake upgrades as you can interchange a lot of parts between the R32-R34 series Skylines. Spend money on minor engine modifications as in exhaust, intake and tune.
Get your hands on a GT-R front cut (R32-33-34), preferably with gearbox and loom and ECU, and start building the engine you want. Talk to Trent at Mercury Motorsport in QLD. He'll point you in the right direction. Look up 'NITTO GT-R' on youtube. The car needs no introduction, it speaks for itself. Totally insane GT-R.
Nothing wrong with the old HR32. Good buy, looking for something similar for my missus' little bro.
Buy another block and start from scratch if you're serious. Forged internals, cams, turbo, dumps, new ecu, ignition, GTR cooler and definitely go external gate... hehe
If you're super keen build a RB26/30. Google is you're friend with that one, as there's plenty to learn.
Ben