They are ok, the seats are crap, as they can be pulled apart by your hands with little effort, there is known reliability issues, not cheap to insure.
In red, I think they look quite purposeful. Other than I don't know because it's years since I drove one.
Go to www.mg-rover.org
And they are more than just a 25 with a bodykit. They do differ mechanically as well. They arent particularly cheap to insure as said. The only thing the K series engine really suffers from is HGF, and that is easily fixed if you maintain your car and keep an eye on coolant levels and oil condition.