It's something I will probably do eventually, but I'm working my way up to it gently. The plan you've sketched out is something I think a lot more people would do if it weren't for the practicalities/perils of coping with existing traffic. Personally I think most cars are at least three times as heavy as they need to be, given average speeds (in the UK), but no matter how much I curse SUVs and pickup trucks, people keep on buying more of them. Having built a recumbent (pedal) trike, and converted a motorcycle to electric, I'm now converting the smallest car I could find (an old Mini), as it's the best compromise I can find.
Your plan sounds good and I love the yellow streamliner, but if you're serious about reducing weight I think the hub motors would be a heavy choice. Better to use a lighter, faster-spinning motor, or motors, mounted inboard with a single ratio reduction.
