[86Zed]

Having owned an FR-S for 50K miles and an ND RF Miata for the past 600 miles I feel somewhat qualified to judge.

Here's the short and sweet - Get the FR-S if you plan on spending time at the track, need real storage space, are not the type to ever drop the top or prefer the looks.

Simply put, the two cars are Mazda and Toyota's (also, Subaru) approach to accomplish the same thing. They feel SO similar and deliver the same style of thrills - I would not go so far to call either one definitely better than the other, it all depends on your personal preference and usage. The RF Miata is primarily my wife's car and she really enjoys the convertible aspect and more refined Mazda interior (her words, not mine).