I should say first that I am highly biased, my first (and second) car was a T18. And I love them, they are ugly and usually full of rust, but how many other cheap, RWD, manual hatchbacks are there out there?
And yes, the macho machine ads are hilarious, I have a copy of one which I should get to you somehow.
Also goo to know that if you total the car (assuming you are OK) you cn pick up another one for $200 and bolt over all the go fast bits.