Yeah, the ZX would make a much better trackbike- the ZZR runs out of ground clearance a little soon for decent track work. I've damn near ground the centerstand off of it on the street.
Unfortunately, the ZX4R is a pretty difficult bike to find, even in Japan. FZR400s and GSXR400s are far more plentiful and just as capable. If I was looking for a cheap small-displacement bike, I'd go that direction.
Still, we'll probably sell the ZZR for something like $3K when we leave, which will work out nicely being as we've probably got about half that into it. The way we look at it, the wife learned to work on a motorcycle, learned to ride it, put a bunch of miles on it, crashed it once and then fixed it, and gained a ton of great experience. The fact that we'll make a few bucks on the deal is just icing on the cake.