348 weight reduction

Rip out interior (leave seats and shifter)
Remove carpets
Remove sound system
Remove valance and dash--leave instrument pod
Remove windows and mechanism, replace with plexiglass
Ventilate rear fender guards for more airflow through radiators
Remove A/C
Remove Heat
Replace bumper shock absorbers with aluminum tubes w/ flange

But, at this point you should have a roll cage installed.
At which point one wants:
Stiffer springs and shocks and the car lowered
Which requires you to strengthen where the springs apply loads to the chassis. (Upper shock towers)

 

There aren't any bumper shock absorbers. Unless you count the rubber spacers.

 

Braille AGM battery & carbon fiber airbox remove a couple of heavy boat anchors. And a Fabspeed Supersport Exhaust with 200 cell cats, drop more weight & performance is waaaaay better. These changes reduce weight without loss of any creature comforts.

 

There are 3 very easy things that can be removed that will drop around 100/lbs out of the car, especially the early models.

1) Dual can muffler
2) Stock Seats
3) Stock wheels

Replace those with some lighter weight variants and you'll drop 100/lbs easy.

Next places that can drop weight are the body parts. Ferrari did this for the Cometizione by using light weight carbon kevlar parts.

4) Front and rear bumpers
5) Front hood
6) Front quarter panels
7) Engine deck lid

Then the stock glass will need to be replaced with Lexan windows. You can lose a few more pounds by replacing the stock headers and catalytic converters with custom headers and hi-flow cats. You'll get a bit more power too. The brakes could also be replaced with a race setup using floating hats. That is about as far as you can go and still have the car look "stock".

After that it's time to start stripping out everything that is not needed to drive. Basically gutting the car.

 

That should have read Competizione. The 10 minute post edit limit expired. Speaking of, that needs to be extended.