OK, I've tracked and owned a 944 and 951, and have not owned a Corvette, but have spent time on track in a friend's '86 4+3. No way no how is a 951 going to be track ready at the price you're talking about. Most in that price range are going to need a LOT of neglected maintenance corrected first. And modified 951's aren't very reliable. In stock form they aren't bad, upping the boost creates problems of it's own. With enough money they can be rectified, but are pretty expensive to modify correctly.
The 944 on track is just so-so in my opinion. It makes a great daily driver, but it's pretty boring on track. Other than great steering feel, it doesn't have a whole lot of pluses compared to the other options out there. An S2 might be different. And as others have stated, the rod bearing issue is definitely for real. Maintenance on both the 44 and 51 is going to be an issue at some point too.
If you can do ALL the work it's not so bad, but farm anything out and the bills start going up drastically. Most things are hard to get to, especially the clutch and the various bits for the turbo on the 951. The oil cooler on the 951 is also in a bad spot. I broke mine on a pot hole and it dumped all it's oil instantly and almost induced a spin at speed when it soaked down the rear tires (and fronts) while under power, and in traffic. On track in could have meant a wadded up car.
The Corvette was a great time. Loads of power regardless of what others are saying. It never felt slow, and the torque was great. Turn in was also good. It was a lot more fun than the 944 on track, but maybe a bit below the 951. It does have it's problem areas, but since I've not owned one, i can only go by others. Hubs are an issue it seems, maybe it's biggest. On track, they can fail, but that should be a yearly or semi-yearly check. As a daily look for electronics issues with the dash, and the 4+3 is an aqquired taste.
My favorite: A Miata or 1st gen MR2. Though a little slower, both make for a more fun track day experience, for a lot less money in terms of tires, brakes, upkeep and maintenance. They simply are more fun than all of the above in my opinion, and an easier car to learn on to boot. And MUCH easier to live with on a day in and day out basis.
Also, an E36 M3 is creeping into your price range as well. I would easily rate it more fun than the Corvette or 944, and just a bit below the 951. Think of it as a big 4 seat Miata with a bigger outlay for consumables.
Of the original 3 choices, if I had to do it all over again, it would be a C4 without question. The 951 is the more rewarding, but it's also a very coslty car to keep over the long run. And most everyone I've seen in years have had needs. And most of those needs cost real money because the previous owner didn't want to spend it. It's like crack though...you always want more. it's best just to stay away and just say no!