Being a VX, weight is one of your enemies to begin with. Seeing that you said that it is dedicated for track the first thing I would be doing is gutting the whole car.
Remove every thing that is not required, seats, carpet, sound deadening (use dry ice pellets for this) door cards, air con, heater, seat belts, you get the idea....
With every thing out there is about 100kg+ saving.
If it were me, a nice seat and a four point harness, if you value your safety.
Brakes, to begin with start with some RDA or DBA rotors, this depends on budget, and a nice set of pads. I use REMSA in mine, they work well, don't cost the earth and they don't destroy rotors. Hit up GSL Rally Sport, a site sponsor here. Also use a good synthetic high boiling point brake fluid.
Get rid of the auto and put a manual in it.......
Suspension, this can cost a small fortune, so you really need to have a good think about how far you want to go, but something nice would be a set of Bilsteins some King springs, adjustable front sway bar and new bushes all round.
Tyres, get some nice slicks or semi slicks as street tyres just don't cut it on the track.
Diff, either a factory style LSD or a KAAZ, don't use a trutrac for the track and run a 3.45 or 3.7 ratio.
Engine, leave it stock to start with, once you have got to the limits of the rest of the car, then look towards more power.
The cheapest way with a V6 is to go forced induction, many turbo kits out there at good prices.
Also find other guys that have track cars, preferably a Commodore as they will have experience with that style of car and will be able to help you out with setups and so forth. These guys know whats what and can be a fountain of knowledge.
Last of all, have fun, that's what it is all about!!!