I love the MX-5 but can't help but feel that the lack of power would be a big annoyance, especially due to the great handling.
Nail that corner perfectly then it'll just trundle along... surely that would get boring after a while. On the roads I find it great because you can hammer it and still be within the legal limits so the sensation is great but on track, I'm not so sure. I have never driven one on track, though.
If you nail the corner perfectly then you'll not just be trundling along

Obviously depending on what tracks you are visiting has a big say on how well suited your car will be. A big sweeping fast track isnt going to suit a great handling low powered car as you're going to be on full throttle 95% of the way around, where as a more technical twisty track isnt going to allow a big power car to show its full potential.