Have to agree with you there...I love a big beefy V8 just as much as the next person, but at the end of the day its not how big it is...its how you use it.
And the thing is, if you like your car, you enjoy working on your car, and you enjoy driving it, doing mods on it is not a waste of money. Just as an example,
this VT is a V6, and I would certainly not consider it to be a waste of money. I myself drive a 4 cylinder Astra, which has half the amount of power of a V6 Omega at the flywheel, and although I'm not considering doing any engine mods to it at the moment (mostly because the whole purpose of me having a 4 is to try and save money on fuel), but once again, its a good car, I enjoy driving it, and while I do spend a bit of money on it here and there (for example, new headunit, also looking at putting in new speakers, as well as an armrest), I certainly do not consider it to be a waste, simply because the car lacks an extra 4 cylinders.