I love these kinds of questions!
It may or may not be possible.
To give you an example, my buddy has the fastest all motor Honda in Colorado. It's a 95 GSR that runs a 14.2 (12.8 at sea level), and that's gutted, on slicks, and no cat. Advantage over a 94 hatch with a B16A: The 94 hatch chassis is much lighter. Disadvantage: it's missing 200cc.
The good news is that if you're gonna build the thing anyway, you can do it right- and I think in a 94 hatch, you've got a legit shot at 11s. The other good news is that the B16A already has a perfect rod ratio, so it'll rev to the moon with a good build, with good camshafts will love. If you're really serious about it, here's what I would do:
Internal:
Bore/sleeve with Golden Eagle to 85mm
Port/Polish/Titanium valvetrain- Portflow
Rods- Eagle
Pitsons- Arias/Wiseco
Cams- Jun Stage 2 or 3, Toda Spec B or C
External:
Port matched intake manifold
Bored throttle body- Spoon
Short Ram, large bore intake- Injen, RS Akimoto
JDM spec 4-1 or 4-2-1 header with longer primaries, 2.5" collector
Matched cat (2.5" collector)- Spoon
Any exhaust except Tanabe
ECU management
Optional, albeit expensive: Toda ITBs
Assuming everything else falls into place (weight, grip, driving), I think you could hit 12s. With the ITBs, you might even be able to hit 11s.
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