Scirocco parts will bolt right in - but they'd be identical to your GTI parts (well, assuming that your GTI was made in Germany they would) - there'd be no real advantage.
The axles and such on a MK1 are plenty strong - just check the chassis for rust - especially at the front control arm mounting points. You might want to get upper and lower shock tower braces as well (the lower joins where the control arms mount - the upper runs between the strut towers - together they really stiffen up the chassis and make the car handle better) - a rear tower brace (triangulates between the rear strut towers and the rear floor) make a difference as well (that hatch opening can really let the car flex - the 2dr jettas were much stiffer).
A lightened flywheel won't hurt your gas mileage - it will make you more likely to stall if your clutch technique isn't really good and can make launching the car off the line a bit of a pain -
Best thing you can do (imo) for a MK1 is:
Strut braces - front top and bottom - rear - top
Replace suspension bushings with poly
Catback exhaust
Swisscheese the airbox (fenderside and front ONLY please)
drop in K&N filter
15" wheels (BBS, IMO, look best) with some nice, sticky 195/50*15's
40mm drop (lowering springs)
Bilstien, Koni or other high quality struts
New front strut bearings
New balljoints (simple to replace while you're doing the struts
Check your tie rod ends (worn ones make for sloppy steering and won't hold an alignment)
Just a little (maybe 1-1.5 degrees) of negative camber on the front end (this will, however, make your tires wear faster)
No front swaybar (lets the car turn in faster - great for autocross)
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