I wouldn't find an NA MR2 with good tyres & correct alignment (functioning suspension too) to be dangerous/challenging @ all. If anything, it's underpowered for the chassis too. A lot of Japs consider the Beams MR2 to be perfectly matched balance wise (in factory form). Still a tarby boy though!
 
MX5 is undeniably a great car! Can't really go wrong either way.
 
Looks wise, I much prefer the Deuce. Another factor which would sway me.
 

 

Not much to brag about here either...

http://www.flickr.com/photos/min-min/2791436807/

I think they are both great cars but have only driven the MR2 on the track so dont really know what they are like on the street. I have been taken for a drive(MR2) on two occasions and found just being in the car far more of an experience, it has far more presence than a MX5. The MX5 is a nice car having my GF at the time own one in 98 which I would take out for drives, pick up the kids, but it was always a bit of a joke, gay some might say..
Also drove one at the Wakefield 300 a few months ago in pouring rain for 67 or so laps. It was a complete blast to drive as it had dry weather semi's,locked diff and bad brake bias driving with minimal visability. Very difficult to keep in control managing sideways on every corner, 3 360's, 4 drive thru's with gravel traps, aquaplaning constantly. It was a really fun car to drive over the limit all day but there are limits.
I have also driven the MR2 in the wet which was a different experience. The Mr2 is closer to a go kart type handling than the MX5.
Neither is  better as they are different cars so it comes down to what do you want to experience. If you like a FR car, take the MX5 or a Supra. If you dream of the engine screaming right behind your shoulder, look at the MR2. 
 

Thanks for the input B24, my impression has always been that the MR2 would be a much more enjoyable experience, but as I don't race, wasn't sure how the MX5 would compare.
 
180Shauny, 

180Shauny 

Someone once told me "An MR2 will teach you to drive" and bugger me down if it hasn't.

 
 
I currently drive a 1990 Nissan Pulsar N13 (not by choice), and I accept that stepping into a sports car (especially with an MR layout) I'll have to learn how to really drive.
Think an MR2 would be a good stepping stone to a Porsche/Ferrari/R8/Lambo/etc. that I will definitely, without any doubt, one day have the money to buy :p
 
But yer, stepping into an MR2, I would respect it and learn it's characteristics first so I don't do anything stupid, maybe take it to a track so I can safely spin out every now and then before I master it. I think it would be a more enjoyable car to own in the semi-long run.

^ yer i've had a run around in an SAE car, not a whole heap, old tires, cold tires, dodgey surface, sliding everywhere! Like I said, I'm not a racer, but who involved with SAE doesn't want to have fun around winding roads? 

I think people forget or don't realise that you can make either car drive completely different depending on suspension set-ups. A simple wheel alignment can dramatically change the handling of the car if you know what you want to do, eg rear toe angle. You could simply stiffen the rear of your pulsar (rear sway bar) and you can get a similar mid corner balance as an mr2, though if you were to compare to a turbo mr2, you would get a completely different power on response (if you gave it too much) but it would be similar to an N.A mr2. I know when I went from my old fwd celica to my aw11, the handling was more similar than I expected as far as lift off throttle oversteer and power on understeer was concerned.
 
But there is no way a stock mx5 would keep up with my aw11, maybe in a straight line but not through the twisties ;)

The only MX5 that i like is the ones with the V8 that Bullet makes and are road registered cars that have all the RTA compliance for every state in Australia. Now these are awesome

I originally planned to have my MR2 for 6 months while looking for an EVO RS.... 8 years 2 countries and 4 states later and i still have it. Sadly i'm still working/upgrading more than i am driving it .. but my point is, the damn things are addictive and FUN. I reckon it's saved my life too cause when i got it i had literally no respect for FR FF or AWD cars and preferred them well sideways... the MR2 makes you think about your driving and have respect for it.
 
that said as a track car... particularly fun level hillclimb/gymkana stuff.... who can really knock a supercharged mx5 on good rubber and suspension...
 
 
it just depends what your after....