ok, lets talk racing

Everyone here has covered the types of drag racig pretty well--not much I could add.
But looking at your post I get the impression your enthusiaism is over-riding reality---nothing wrong with that, you just have to keep it in check as this stuff can get pretty addictive. To that end, I would suggest you research just what you can afford, how much commitmnet you're willing to make and what type of car appeals to you. 60s musclecars are great as are street rods, nostalgia type racecars and of course, there's your dual-purpose street machine. Certain organizations have their own rules for running an event but most all use NHRA rules as a basis for their rules, so you may want to research that, too.
Myself, I prefer nostalgia-type cars so having the latest trick pieces aren't a priority, so I can still race & have fun. Whatever you decide, check the Internet for specific websites for the type of car you have & the sort of racing you want to do. There's TONS of info out there, so sort through it carefully.