Dont forget collets for the valve springs , bearings if your gonna pull the motor down , oil pump , machine work , flywheel , front pulley seal , rear main seal , coolant flanges , coolant hoses etc etc . Remember its a 20 year old car .
If it was me , Id stick with the 1.8l 8v , bore it out with high comp pistons . bigger valves with titanium collets / retainers . Nice set of IE rods . Lightweight flywheel and stage 1 clutch , rebuild the box with one of the new type wavetrac lsd's , change all the coolant hoses , water pump , timing bellt, coolant flanges and radiator . Get a nice set of lightweight rims , fix the brakes up etc etc . At the end of the day the 16V isnt going to be much quicker unless you spend some decent money on it
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