Is it worth it: yep, you bet.
If you are debating whether the Galant is a suitable base to start modding for a street ride, consider recent tests in magazines of similar cars. A Galant is just a 3G Eclpse with a more restrictive muffler and a longer wheelbase. Event the weights are nearly the same.
Car and Driver did a 6 car test where the 3g came in second, and posted the fastest road course time of all the cars tested. They said it didn't feel fastest as it was so relaxed. I just call that composure. Remember the final fight scene in 'the Matrix' where Keanu Reeves blocks everthing one-handed, while looking at the other hand? Why let them see you sweat if you don't have to?
Last month Car and Driver tested a Dodge Stratus (which they said was a 3G Eclipse underneath, Wrong, acturally more like a 2door Galant). While the Mustang GT V8 was the fastest in the quarter and 0-60, again the Stratus/Galant beat the field.
Perception may be reality for most folks, but I like what Mark Twain said;
"It's not all of the weird ideas people have that trouble me, it's all the perfectly normal ones they believe that are completely wrong!"
Seems the 8G is as good a place to start as a grocery getter '60s Nova. How many small and even big block Novas do you see at the track every weekend? I have had a late '80s Mustang GT and I have a 2002 ES V6 now. The v6 won't accelerate like the v8 but the feel of everthing else is as good or better.
Big Al