well, after reading up and doing a lot of research, I've finally decided to go for the 5VZ, at just shy of £6,000 inc shipping, The engine will be supplied fully rebuilt with a list of upgrades as long as my arm, pushing between a guaranteed 600-700 RW bhp, (inc a Rotex SC)
I have Paul Woods based in County Durham (NEast UK) to carry out the work, Engine to be built and supplied by Sea2Sky in the USA, at this price, Pauls labour is not covered. The car will be going in for the work in 5-6 months.
Should be a bit of a beast. My father works as a paint designer, doesnt sound exciting, but he only works with flip paints, chromes, metaflake and temperature reactive paints. So he is going to be designing / providing me with a custom colour, hopefully find a genuine TRD kit to finish it of - so if anyone knows of where I can get one - let me know
Anyways - as to the debate, if you want driveability, with a little bit of a conservative drive left - go for the 3VZ - if you just want something brutal for the drag strip and a few weekend drives, go for the 5VZ, either way, both are excellent setups in the MR2 and neither should be knocked.