I agree on the cost=smiles per mile thing, £600 per year insurance at 22 with 2years ncb + all mods declared, averaging 18-22mpg around town but will hit 38ish on a long run and the cost doesn't bother me, even though tax is roughly £250 a year it still outweighs it. I could be in a boring modern car but I think I'd only drive when I had to as opposed to to days like today, took the roof off and did about 35miles just randomly driving.
In other news, I've been looking around and for £5k I could get a pretty sorted s14a, I could also get an R33 and even possibly an E39 m5. Not sure whether I should go for some slidey jap fun or a straight piped euro box. Hmmm...