the gt4 has a bigger engine (3.8), more power, mid-engine, and lighter chassis. All the minor things you have to add to the z34 to get to competition level, like adjustable arms and spherical joints come standard on it. Oh, and i dont see a differential on your build list, but the gt4 comes with a fancy schmancy unit from the factory. it has the racing seats from the factory.
Is it POSSIBLE to make a Z better than the gt4 while keeping it streetable? probably
is it possible to make it better than the gt4 while staying under the $100k price? unlikely
the guy who can make this happen is a wonderkid who is given a straight low miles z34 chassis for free, has cousins that work for all the best aftermarket companies so he gets parts at wholesale, and also has more cousins who own custom engine building shop, a custom suspensionn/alignment shop, a custom metal shop for fab work, and is buddies with racers who know the chassis well enough to help you set it all up
even then, it'll require a buncha time and effort, regardless of whether the bill is cheaper than a new gt4 or not
but in the end
who cares if your z is faster than a gt4 or not? its a different car for a different market
a worthy goal, but not one that you should consider yourself a failure if you don't reach it
bench racing against other cars only makes you a perpetual loser. its a battle you never win
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