it depends on if it is the 16v 1.9 thats not too bad, but I wouldnt be put off by the 8v either if the right one comes along, they are cruising around with the roof down cars not crazy sideways animals.
Z3 either 2.8/3.0 or otherwise its just an overpriced MX5.
alot nicer place to sit than an mx5, i'm sure of that.
Not that I'm saying to get an Z3 though.
I would be looking at an MG TF or maybe something classic like and old Triumph Stag or TR