There's a control box for the alarm under the driver's seat. As far as I can tell, the alarm does absolutely nothing but cause a little red light to blink.
Today, I decided to check my brakes to see why the pedal was a bit spongy and the car was pulling slightly to the right. Turns out one of the pins on the left front caliper was frozen SOLID. I tried to break it free with PB blaster and a large C-clamp, but the clamp actually snapped in half, leaving the caliper unscathed. I went up to Autozone, which, to my surprise, had a brand new caliper for an '86 MR2 in stock. I replaced that, bled the brakes (on 2 of the 4 calipers... the other two had frozen bleed screws that I dare not try to force). Regardless, I removed every caliper, greased each pin, checked the pads, cleaned everything up, and removed all the stupid dust shields that do utterly nothing but look like hell and collect rust. That was 3 or 4lbs more!
I also discovered both my rear lower ball joints are shot. That means that 3 of the 4 rear ball joints on the MR2's I've owned have gone bad. I recommend you all check yours. Unfortunately, nobody on the planet carries rear ball joints. They all have front ball joints- the ones that never ever go bad on MR2's, but the rear ones, with a 75% failure rate for me, are not to be found. I'm gonna check a place specializing in import parts in the morning. With any luck I can just swap them out without ordering them and having to wait.