Mini Baja looks like it would be a lot of fun, but my school hasn't built one in a while. Some students took the last one out for a joyride around campus one night, and it's been dead ever since.
We are using a Yamaha R6 engine, naturally aspirated with a custom aluminum intake, megasquirt ECU, and a very nice titanium header. I've tried to get my hands in just about every part of the car, but my primary job was to design the shocks and sway bars. We are running pushrods and bellcranks, which I was also in charge of designing. These projects really are great. You can check out our car on our website:
www.ecs.csun.edu/~sae/2007/
One of my favorite parts is the carbon fiber chassis, it turned out really nice.