How rare would you guys consider a factory original 89 AW11 G-Limited (not the Blue super limited ones) that is in near on mint condition and other than reasonable replacements (shocks, bushes, filters etc) is as it was out of the factory? 
 
Despite it being "only an MR2" and not the X100, how important would you consider it to maintain its original condition? 
 
If the car were to be modified from its plated factory floor finish, but still within the standards of other factory trims (say from auto to manual using all factory parts, including cluster and dash changes) would it be a stretch to still call it "factory original"? What about if you did basic, subtle bolt ons like, larger SC pulley, EFI control and a none rusty, falling apart, restricted exhaust?
 
How far could things be modified to update original parts that are no longer available or usable and still call it original, providing that trim and presentation is kept as original as possible? For example, replacing the factory stereo with an updated head unit, amp and speakers but within factory locations. 
 
Basically, how stressed should I be doing this stuff and should I be shot for destroying a possibly limited "future classic"? 

I'm speaking personally, and my opinion is in no way intended to be a definitive MR2 Queensland directive . . .
 
As far as rarity goes an '89 is right up there with rocking horse doodoo.  In an ideal world it should remain absolutely factory issue.  However, we live in the real world, where these little gems are intended to be driven and enjoyed.  I myself (and most people who know me know how passionate I am about doorstops) would be the first to treat such a jewel to a reputable aftermarket bush and strut insert upgrade, and a stainless exhaust system.  I wouldn't go the pulley change, but a step-up on the stereo system would be OK - and I would look at using a late model Toyota unit to keep it "in the family".
 
Come on, now, stop teasing. Pics of VIN plate and rego label to prove that such a mythical beasty actually exists.

Well that's a good question, the rego says 89 but alas after a Vin check, it is, in-fact, a November 88 (usual first rego deal). A further check finds everything else is an original QR model. A shame the rest wont match now I've swapped the gearbox although, despite the hole in the firewall, it doesn't have to be permanent.
 
My prothane bushes are on the way and looking at Tokico blue (only because I'd rather not spend $1800 for 2 sets of koni yellow, and whats the point when it will flex anyway), but may look at KYB GR2, munroe sensa tract or Gabriels as it will be more a daily/show piece than performance car. The new engine has already been rebuilt (not by myself) with a larger pulley in mind but I will be keeping the original engine either as parts or potentially as a second rebuild. Since this is the Q model, I was planning on replacing the speakers with reasonable quality equipment, but was reserved on the HU. I may look at the factory sat nav unit from a Klugar if it fits. I'd like to keep the factory amp, but I suspect it will provide a similar quality sound to that of a Nokia 6110. In any case, other than the HU it will appear very factory and any additional speakers/amps will be hidden from sight. 
 
I guess I could be thanked for not dropping the 3VZ in it then? Just as well I didn't have the space at my old place :P

worldwalker I guess I could be thanked for not dropping the 3VZ in it then? Just as well I didn't have the space at my old place :P

Indeed, 1MZ is the bare minimum for any V6 conversion... Putting a boat anchor (3VZ) in there would just be sad :)

Mine is an original '87 WJPQR. Only modifications prior to the purchase was a set of aftermarket rims (which I've already acquired some teardrops for restoration), aftermarket OEM style exhaust, and a respray.
The respray is the same colour code, however they added additional metallic fleck to give it a slight "show car" style to it, as well as adding some racing stripes. Overall it's not too distasteful though. Suspension is even factory on mine.
In regards to factory original, unless you find one with crazy low kms, don't feel guilty about anything you are doing. I am intending on doing period style modifications to mine; larger SC pulley, Recaro LX, Koni/Eibach suspension and already swapped steering wheel for a Nardi classic competition.
 
Unlike you though I am intending to keep mine automatic since I don't have any desire to do a manual swap. The auto is rare as it is but by all means not a slower car. My other car is a manual so I don't feel any envy towards all you other lads running SC/turbo setups in a manual. I'm spending the money to keep my engine bay as factory as possible but yeah don't limit yourself on what you can/cannot do.
 
My end goal is as long as I can potentially comply with historic rego (30 years in ACT annoyingly) then i'll be happy.

Here's my 2c
In terms of value, it really depends on the demand and supply of the market place. Quick research online and offline would probably get decent feedback.
There might not be many but there are enough clean AW11s in the world to continue the legacy, same goes with SW20s. Otherwise I think our cars would be much more expensive!
That being said I also intend on keeping my car relatively stock but that's me personally. The only non stock stuff I have are the bushings, radiator and soon to be DIN mounted gauges and cup holders. Things like shift knobs, CD/radio/speakers, exhaust shouldn't even be accounted for and they are easily reversible. In fact as long was everything is easily reversible and you kept all the stock parts then it could sell very well in the future.
I don't think you should be too worried. Then again I'm not an AW11 owner so maybe you shouldn't listen to me :P

My 2c,
 
If you have an AW11 that is completely stock standard (or close to it) and in great condition, I would only be modifying it with parts that can easily be swapped back to the originals. No cutting holes, body kits, major engine mods etc.
But I think wear items should be replaced with OEM or better. Bushes, struts, disc rotors etc
 
With my own AW11 I am sourcing out all the little bits and pieces that are misisng to make it complete as possible. (Original jack, tool kit, trim etc)  I am trying to make the car as standard as possible with the exeption of the Gen3 3sgte / E153 in the back.
 
I reckon keep it clean and rust free and it will always be desirable when it comes time to sell.

Ah, well there's a slight problem there, I've already replaced the peddles and switched it over to manual. The car has been in the country a long time and is over 100k km now but it has clearly been garaged its whole life. Bar 1 crack in the dash the interior is spotless, all plastic pieces are in place and externally sound, I've repaired where cracks have formed on the mounting points but they are not visible, the seats and carpet look like new, the centre console still has the "MR2 Limited" badge intact and it even has the sunshades. It appears as though most trims have never been removed (I've cracked a few factory seals to access areas). There is no rust penetration, there is very minor surface rust at some seams but more discolouration than anything sinister, a small amount around the front bumper and radiator but nothing like some getting around. All the seals are intact with zero rust, all the external plastic fittings are intact with little to no play, there is no visible signs of panel repair although there are two dents which can be pulled. It has both 100% intact frunk and boot linings (including the original jack, tools and fuse cover).
 
It also has a pair of the Super Edition targa tops and the LED wing tail light

Not quite mint, but its not bad for its age. 

To what ive noticed recently that the price of the aw11's are going up, when i brought mine got it at a low price cause thats what they were averaging in price and many that weren't in great nick were selling more so if the price was high no one would take interest, now they seem to be poping up in great condition and well looked after and i think they deserve the price.
I think now that there either in excellent condition or used as spares or a race car.
so it wont be long until there classified as a "Classic"
 
And with  the centre console still has the "MR2 Limited" badge intact that defiantly would be a unique factor as many may not have survived like your or at least faded! your car sounds like its been loved previously and seems yours still will be around when it hits 30 lol

We're talking the center console as in the arm rest and the badge just after the gear selector?
Those only displayed "MR2 Limited" or "MR2 Super Charger" on the automatics; the manuals had the gear shift pattern there. I believe the "Limited" badge was also a late '88/89 thing as my automatic says "Super Charger" even though it's also a G-Limited.
They are rare by virtue that automatic limited GZE's were rare enough. It definitely does sound well kept though; mine the exterior is mint due to the respray and nil rust/dents, but the interior is slightly worn and carpet is shagged. Seats are fine except for one cigarette burn.
My badge was worn to the point where you could see the "MR2" but only some of the "Super Charger". I took the badge out and covered it with a replica sticker I made myself using the MR2 font found online. In my case it made it look 100% better.
 
Either way looking forward to your showroom thread. I might start one up here too for mine to benefit those who don't regular Toymods.