Chavan,
you'll have read about the overwhelming bias towards the Golf but if it's ultimate driving thrills you're after then the ED30 isn't the sharpest tool in the box. Don't get me wrong it is an extraordinarily accomplished car and without doubt the most rounded and desirable package of any (affordable) hot hatch currently on sale but there are better 'drivers' cars out there.
Personally I find that it's the chassis and brakes that let it down and I wouldn't consider any of the 300bhp chips for this car in its standard form. It's great at 8 or 9 tenths but ragged thereafter with pronounced lateral transitional 'lag' (it takes the roll bars, springs and dampers too long to contain the side to side weight) and the brakes are only adequate and don't inspire confidence with hard use.
The engine is fantastic and gets its power down well but it's at the limits of its adhesion in low gear corners and will spin up its inside wheel given an opportunity. Torque steer is very well contained though. Another 60bhp will only exacerbate this and I'd wager that the standard ED30 would drive away from a chipped one on a twisty country road simply because it would get its power down more easily.
The motoring press havn't gone mad over the Megane R26 for nothing and that trick diff gives it an advantage on give and take roads that the ED30 (or any other hatch) can't match. I drove a Megane F1 the other day and was astonished at its stability (finely judged damping) and direction changing ability (wide track and huge tyres). You do though have to put up with the uninspiring interior, van like driving position and questionable looks, although you did state that this won't bother you.
There is speculation that Renault will soon release a last hurrah Megane 'Ultimate' with more power and less weight, so that'll be worth looking out for.
Although you thought that the F1 felt quickest I think that it was subjective as performance figures show that a standard ED 30 will hit 100mph around 1.5 seconds faster than the 30kg heavier Megane, probably due to the 'real' power output advantage of the Golf.
Finally, if you can bide your time then the general consensus is that fast hatches will soon all be running high 200's horsepower mated to trick diffs, the advantage being lower weight and less complexity (read cost) than 4 wheel drive models but still with reasonable traction and great ground covering ability.
The next 12-18 months looks like being an exciting time.
Good luck, the search is often the best bit!
