yes, 60 lbs in the front of the car is bad. if that 60 lbs was a 6 year old passenger, then no, it wouldnt be very bad at all because it doesnt effect the balance of the car being right in the middle. but adding 60 lbs to the very front of the car, and extending it up even further past the front axle is a horrible idea for handling.
and i could care less about the extra 300 HP, its a street car, you dont need it. plus you will become a much better driver driving a slow car fast rather than relying on power to cover your bad driving...
if you want a drag car, dont look at a fwd volvo wagon. get mustang or something.
im guessing he could do header back exhaust, cams, everything he could do for the intake, ecu, etc and get plenty of power. or just do a turbo setup, isnt that engine turbo'd for the R anyway?