First, stop.
Horsepower is a pointless number. What you need, is torque, because that's the actual, and real force that moves your car forward.
Nevermind that you could put money into a bicycle, and get horsepower out of it, so you need to be a lot more specific in your question.
Secondly, the MR2 won't automatically win because it's faster.
Third, if you HAVE to focus on horsepower, you can get a lot out of it.
I have a 1988, with just over 500+ at the wheels. Maybe that's not as much as some 1993+ Supras will get, but it also gets 30mpg, and is street legal. Passes emissions, etc.
Email me, if you want details.
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