Check out his avatar Stuart. It's a phase 2, Techno Grey (KY5), 5dr
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Dopey me, missed the avatar.
Hmmm, most of my cheap-n-subtle mod tips are for P1s (P2 wiper, mesh in front, tinted rear lights etc).
The phase 2 looks pretty sweet as standard in Techno grey.
Some nice alloys and decent lowering springs are the big ticket things and make a big difference but don't go too big on alloys with the 1.5 because 17" will likely weigh more than the standard steelies and you want less unsprung weight not more, particularly with the 1.5 engine.
Removing any dealer stickers/reg plates goes a long way to cleaning things up depending how plastered with them it is. The badges on the rear come off quite easily if you like a clean back end.
The grey base colour works well with a highlight colour; something like orange side indicators with orange front calipers behind some nice alloys should look nice, maybe with other discrete orange highlights elsewhere (even something simple like an orange air freshener hanging from the mirror subtly adds to the effect). I've found that Hammerite works fine on calipers so long as you clean them up well first and black gloss hammerite on the brake disk hubs (just the hubs, obviously, not the braking surface!) cleans things up behind gappy alloys.
Dark tinted rear windows on the 5-door don't look great because the shape of the windowed area is already broken up with pillars and the untinted front windows sort of mess up the effect but you can blend this out a bit with smoked front and rear wind deflectors (from ebay, Team heko ones are good and cheap) if you want to go down that route. A mate from work had quite a dark grey tint on all windows as standard on his silver phase 1 sport and it looked fantastic but I'm not convinced it would be legal if tested.
A nice backbox will give the back end a nicer look (or a tailpipe trim if you can't stretch to a backbox) and the splitter from a 2006 (I think) Seat Cupra 'R' fits nicely under the front bumper with a little trimming of the fixing pillars on the splitter and costs less than £20.
Hope that gives you some food for thought.