45K to spend. Help!

It's come down to a Boxster S as the only scratcher that'll get to this itch. I've found an 02 Red S, all the right trimmings with 7800 mi for 44500. Here's the rub. Do I buy this car and max my budget (is that a solid deal?), or do I look into a 2001 or even a 2000 with more miles, and use the savings to turn the older car into a firebreather and headturner via aero/wheels/chip upgrade/exhaust, etc? I have a great Porsche mechanic at the local dealer. What do you think. Thanks very much! Keith