Cant really comment myself. I choose the 8v due to petrol costs and the fact that a 3dr was out of my price range of £1k and i didnt want a sh!tter 16v for 1k.
After christmas when money is available i will be getting head work, 4-2-1 manifold, proper exhaust system and cams with a new ECU or, unless the stock can be remaped. Im sure that will keep my happy for a year or 2.
No doubt the 16v is faster, and would be EVEN faster with the above mods done, but IMO the costs are more for the valver. For example theres 2 cams to change, thats alot more already

TBH theres not really many more cars that will beat either the 8 or 16v standard trim and n/a. Only the likes of a VTS etc which ways nothing, but bad electrics and safety lets them down. Prob the Pug GTI better? MI16 is a monster but there from the later 80's too!