Yes the 16v version is better, fit & forget.

I disagree on your theory though, buying an actual Cosworth is the cheapest way, if you buy a clapped out Cosworth you will have exactly that in parts.

Clapped out engine, gearbox, suspension, wiring, etc

Do this one nice as a twin cam 8v, make a good job of it, then sell it and save up for a proper one.

Good luck either way.