Ah lian, good to have you here share your valuable knowledge.
As I learnt from the good folks from the MX-5 forum, don't freak out over the horrific-sounding grating manual gearbox sound (esp. when you lift off). Apparently, its common and harmless. Still, on the one which I get to drive once in a while, the gearbox does get very very hot after a couple of redline shifts.
Bimmerman, ask if the black one has LSD. I've not driven a Miata without one but taking off from 90 degree intersections have never been so fun, especially in the wet.
Nothing else I've driven offers the same degree of intimacy, feedback, balance and hence, satisfaction.
Fairly torquey (but harsh) twin cam, adjustable (not a lot, but more than most Jappy cars) double wishbones all round, quick rack, authoritative gearshift, timeless (but not original, who cares?!) styling, infinite aftermarket options and tons of cheap used engine / internals. What more can you possibly ask for at that price? Sure, I hear you saying AE86, but really, I think that car's image is too much for me. Its also overpriced, and everyone wants a piece of you.
Ok, the hard top is more likely than not to leak and the quality of the interior plastic is just a little bit better than a Saga's, but when you're circling the roundabout for the umpteenth time in the wet and laughing hysterically, all that doesn't matter one bit, not especially when it dawns on you that you don't need those ceramic turbos, 4WD, 4WS, active steering, active LSD, AYC, XYZ, ETC. crap to have a great time!!!!
GO FOR IT!