I have to agree with silence (possibly the first time in my life

), it was presented in a very cocky manner. Furthermore, no one ever said it
COULDN'T be done, ANYTHING is possible with enough money. It becomes an issue of is the conversion cost effective. Some would argue yes, others would argue no and would rather just buy a newer AMG with nicer amenities and more up to date technology for the extra $10k+ in cost (or more when you count labor time).
With that said, the W202 chassis does not have enough room for really wide tires so traction may pose to be a serious problem, especially since its nose heavy now.
Either way, sure looks like a fun project, should be interesting to see how the car does at the drag strip. Be sure to take some high quality videos!