Mechanically, at least. The rust is a whole other issue.
If you don't know Charles, the Humble Mechanic, allow me to introduce you—Charles Sanville worked for a VW dealership for 13+ years fixing all sorts of issues on all sorts of generations of Volkswagens. He's developed tribal knowledge in the VW field, and has created a YouTube channel to make that knowledge accessible for people like you and I. He's created DIY videos, troubleshooting diagnosis, and all sorts of other ways for the average Joe to learn about their vehicle and, more importantly, how to fix it.
So since Charles is such an expert at both Volkswagens and video production, we decided to partner up with him and MEYLE on a MK5 GTI, our latest project car. The GTI was purchased up in New Hampshire, and now lives with Charles down south until he's sifted through every issue on the car, fixed it, and documented it, before it'll come back into our hands at FCP Euro headquarters.
So, what will we do with the MK5 GTI when Charles is done with it? Who knows! There's a moderate amount of rust on the car (thanks, New Hampshire) which we need to be mindful of, but other than that it'll be a (relatively) well-maintained 200,000+ mile GTI ready for it's next stage in life.
Race car? Show car? Let us know what you'd like to see done to it in the comments below.