Your cars aren't even in the same class, so it's really pointless. If you wanna race him in a better way, do it autocross.
If you REALLY wanna do it, all ya gotta do is send your block off for sleeving, spend a good amount of money and a big turbo, a boost controller, missing link, spoon ECU, and some other things I probably haven't mentioned. If you think it's really that important to prove to your friend who has a smaller penis and a bigger paycheck, it's fine with me, but personally, go autocross, it's something the sol can do really well. Upgrade your suspension, get some fine adjusting tools baer sells, put on the swaybars, tie bars, and strut bars, make sure your camber is good, then go have fun.
Which is more fun, the curves or the straight line?
EDIT: You won't get many replies on this, because it's pointless and not many people want to waste their time on the subject.
His car has a V8, yours gets 31mpg; He goes fast in a line, you go fast around curves case closed.