I'd like to echo these words.
Legendary, we all know it'd be cool rocking up to school or some other joint in a 300ZX, Porsche 944 or some other high powered but p plater legal car, but as Azureman said, you build up a tolerance for the acceleration and the Gs, and you'll start doing full throttle starts more and more, and in the end, it is going to get dangerous.
Besides that, the rozzers will pick on you on a sunday arvo because they havn't filled their quota and will pounce on anyone remotely suspicious. Getting constantly pulled for no reason gets very very tiring - ask someone I know of who has a show car Prelude on Ps.
I'd get something with less power and a more sorted chassis for a first car. The cars I really really want right now are a Pug 205 GTI, an E30 coupe and an MX5.
Then you can have a hoot in something that isn't too powerful, and goes under the radar.
I'm not saying you can't handle the power of a 300ZX, but I will say you can't 100% handle it. If you can 99% handle it, it only takes 100 stabs at the throttle....or about a months driving, for something to go wrong.