It's more a theoretical question rather than something I would want to attempt. Bit like an MGB build on a heritage shell, how far could you go with a new mk1 build and which parts would have to be second hand.
Well considering each wishbone arm are roughly 200 quid each with 8 of them along with subframes, etc your talking about 2-3k in suspension. To build a brand new mk1 with all new cars if you could 20-25k.
Someone in the OC has a pristine "new" Mk1. IIRC he bought what was claimed to be the last original, new body in the country. So "Not possible" will be the answer to your question. Cheers, Pewe.