driiiiiiiiiifttttt. Well heres my advice, sinse s13's (240sx) are my fav car (dont kill me) and they are reeaallllyy common for drifting i know a liiiitttlle bit about a setup. lsd for sure , or be really cheap and weld your diff but then have fun parking/on ramps/any turn really. '
make sure your tranny can take a good beating (LOL) and get a pretty good clutch. stiffen up the rear and leave the basket weaves on since tires are cheap for them xD.
hmm what else. OH YEAH check out the driftworks forum. theres probably a few e34 builds over there that might have some good tips. A nice hydraulic e-brake would be nice but if youve got the power then you probably wont need the e brake that ofter. hmm and well i guess strut bars would help with stiffness. Theres my 2 cents