Rust, Rust, ruuust. You thought MK1 MR2s were bad? I had a mk2 mx5 for a while, never seen it so bad. Bolts will not come out anywhere underneath without shearing as they are exposed end threads. There are a lot of those needed to mess with suspension. Arches, sills, all problem areas. Drain holes around the roof base block and its game over.
All the same, I fancy V8'ing one...