I don't know much about it but the MPS engines have some issues of their own - the reliability can be much improved with swapping out for some 3rd party parts apparently.
The MPS engine isn't too bad. Mazda made a bit of a mistake with the timing chain, which they revised in later models. You basically treat it like a cam belt and if you hear it slapping on start up its time for a change. There are a few that have done over 140k on the original chain. K04 turbos eventually eat their own oil seals, but I don't think this is specific to the engine itself!
The main stigma is the engine throwing a rod. But this can be down to 2 things, poor aftermarket map, which cranks up the torque below ~3k RPM and if people go WOT in high gears at low RPM. Again forcing the engine to go dump torque low down. Basically if you can use the gear stick properly and have some form of mechanical sympathy they are an extremely effective engine!