Glad you've finally come to a decision on what your doing with it, shame its the crank but to be fair if you rev them thats what apparently happens
One of my mates owned a RK prepared R32, it was the sister car to their own one they did run and it was not slow at all, 455hp originally then 550+ after the rebuild when the crank went, typically the cam belt "fell" off when running that one in so that meant another rebuild but all in all it was a very impressive car when it wasn't smashing gearboxes out of it
Glad to hear its got a skylab controller in it, I hear there rather dangerous without one !
edit as found a pic of said car