I've had a Mk3 16v and a Mk2 16v. The Mk2 felt much quicker than the Mk3 and it had fewer problems than the Mk3, which is why I sold it to get the Mk2.
Even with the 150bhp 16v engine, the Mk3 is still heavy
Do you know if your GTI is still kicking out the full power?
Besides, you've no idea what the Mk2 that "smoked" you was running, could have been anything from a 16v to a G60 or 1.8T.
It's horses for courses though. If you like the Mk3, get one and enjoy it.