TheDonEffect

I owned a 240sx, great car. I take it that this car will be a DD, and if so I'd def get the 240sx, very practical as well. If you do get one, I'd recommend the 91+ simple because you get the DOHC motor and if you do an sr swap, will save you a bit of trouble, plus most turbo kits for the KA motors are for the dohc motors as well. Miatas are great too, but the 240sx will give you a better all around street car thats easy to live with. But if this is going to be a second car, go with the miata.
Also, for five gradn you can feasibly pick up the notorious 80s corolla which as far as rwd, low buck cars go is probably your best bet (they weigh just a hair more than a miata), although they are quite rare.
I went with the 240sx because it gave me the all around package I was looking for, my best advice, go test driving and see which one fits your needs and tastes the best, all three of the cars I mentioned are wonderful cars and anyone who knows anything about cars will agree. Happy hunting.

harshfury

Get a Civic and drive it in reverse.
JK

...if you can find a good one, The Mitsubishi Starion 88 or 89, RWD, Posi, light back-end that can bite you.

Pretty torque heavy too, 246 or so...which is more than you would expect.