David,
Excellent job yesterday during the driving school, I could see you have very good car control. Yes, Spec Ice Race Neons are street legal minus the bolted tires of course! Of course the car has to be registrable with the Provincial Government and have valid insurance which I will address later in the email. I do know of a few (very rare) people who do drive their race cars to the race track (Ice and Road racing). Firstly If you don't mind the wierd looks you are going to get driving a roll caged, race numbered, race car on the streets. Secondly if you don't mind having to answer lots of questions when you drive up to a gas station to fill up. Thirdly and probably the worst is getting pulled over by a Policeman who is having a bad day and potentially hassling you and doing a full vehicle inspection. If the three things I mentioned don't bother you then read on and consider it further.
The insurance on races car could also prove to be troublesome. As you know no insurance company will touch a car that will be used as a race car. Even if you take your regular street car out onto a track your insurance is void! I think that if you didn't tell your insurance company that you use the car as a regular race car and they found out...yikes! Best to ask your insurance company first.
Road racing is very expensive and not for starving students or people on a limited budget that is why I suggested Ice racing first...gain experience....save your pennies....get the use out of the car and build up to Road Racing. I did and I think it is the best way to do it.
Even if you have the money, work out the costs and the budget you are willing to spend. You have to include lots of things I did not even consider. Basic Car, Modifications to meet WCMA rules, Race schools, race license, entry fees, tires, gas, spare parts, hotels, food...the list goes on and on.