Someone asked about mk2 16v versus mk3 16v and having owned both (un-modded) I think I'll throw my 10p in.
The Mk2 16v is great fun, sticks to the road better than the Mk3 and although the Mk3 has slightly more power, it is a heavier car, so the extra power is taken up shifting the extra weight.
If you want comforts and mod cons, have a Mk3, if you want a fun drive, get a Mk2.
As for a head to head 1/4 mile, it would be close, but round a track, the Mk2 would win.
I have been thrashing around in an Alfa Romeo 156 with a 2.0 16v Twinspark engine, which has 155bhp. It's good for motorway cruising, and blasting away country roads. But it's not as chuckable or as fun as the old Mk2 16v.
I'll be back in a Dub this month though as the car has lived up to the reputation of poor reliability and durability.