Even with those limitations you'd find that it'd still take a small fortune to compete. Heads up racing is expensive no matter how you write the rules. Even with a stock block and 15 psi limit, you're going to find the guys with the big checkbook buying the best of everything and running away with the class.
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Jeff Chambers
T/S #4
12.40 Seconds/109.5 MPH
http://www.kellnet.com/chambers/default.htm