Regarding comparing the LS-swapped Miata, using money as the only qualifier for comparison is cool and all. But I like to consider other things. This being an FR-S forum, many of us prefer balance + great speed over imbalance + better speed. 2ZZ preserves the displacement/# of cylinders as the stock 1ZZ. It's essentially a 1ZZ with upgraded OEM internals. Same can't be said for LSx into Miata. Far cry from it. Quick google search shows a crappy LS-swap will run $2k-$6k while a proper LS-swap will run $15k in a Miata. Quality for quality, a 2ZZ MR-S being half the price beats an LS-Miata. I'd like a K20A MR-S as well but that's easier said than done. It costs more IIRC and is not as swap-friendly. When it comes down to deciding where to put your money considering other things besides performance numbers, 2ZZ MR-S beats LS-Miata and K20A MR-S. Same train of thought went into many of us picking the FR-S/BRZ over other cars of similar price despite having better performance numbers. If we are going to compare based on money spent for performance alone and disregard any and all hacks/reliability/practicality, LS-Miata fails miserably to $10k superbikes.
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hmong337 wouldn't an LS-Miata beat your MR2? You've got the collateral; put your money where your mouth is and upgrade to one. Only makes sense, right? If it's the looks that's stopping you, well, the MR-S looks better than the Miata IMO, especially the aggressive rear (more so than the FR-S). I've owned both the MkII MR2 and MR-S; MR-S is easier to work on. There's a niche but strong appeal in owning the rare configuration of MR over the more common FR. The engineering principles of MR have an inherent and ideal purity that translates into the pinnacle of motorsports (F1).
I'm not concerned with needing seats nor storage space for practicality. Having owned an MR-S with full suspension/bracing upgrades, I still prefer the feel of my BRZ over that. My only gripe about the MR-S is its engine is mounted somewhat high, raising the center of gravity and I could feel the roll going into corners (hence all the bracing). Coilovers can alleviate much of that. But the balance inherently tuned into the BRZ feels sublime. A better performing 2ZZ MR-S for less makes it a really tough call. To me it becomes a purely subjective question of new vs. used and looks. If I'd never owned an MR-S prior, I'd probably be driving a 2ZZ swapped one now to get owning a mid-engine layout car out of my system instead of a BRZ.