I have never owned a TB02, but I always heard/read the (ball) diffs were rather delicate even in their time (2005-ish, before LiPo and brushless and when many touring cars in fact still had ball diffs). So first of all, I wouldn't run modified with it.
Besides this, the TB02 is shaft drive, whereas most competition touring cars are belt drive.
You'll probably feel the difference between an older club racing spec car and a modern, full fledged competition tourer even if you're not an experienced racer. That said, racers who know what they're doing could probably win with a (near) standard TT01 from guys with the most modern gear. I'd just try it out and see if you like racing
