The Mk1's are still very capable cars, well designed and great value for money.
I bet the MR2 would handle better if it was fitted with quality track tyres, my Boxster has big road "N" marked 16" 225/50 "Pirelli PZero Rosso" tyres and they are great when they get hot.
The next Oulton day is on Saturday April 4th (Circuit Day) my mate in the Porsche club "Boxsey" is going and his friend "ziggy" is taking his MK1 on the track, it's not all pokers !
http://www.boxa.net/forum/index.php?showtopic=36849