HP it's more like $10's, $20's and $50's

Warnberg, the Club 40 is a great place to start, it's low cost, a little slower, and most of the equipment will go right into a 424 plane. Plus if you find racing isn't your thing, you'll have a great little sport plane to play with. The Viper and such are really kinda "One trick pony's, go fast and turn."