I would have to say go with the MR2, but thats a bit biased considering between my friend and I we have the MKI, MKII and MKIII. The new MR2 is fun to drive, but its not terribly powerful. Also, as mentioned, there isn't much space and the top is sort of a pain in the ass to put down.

I like the used Supra idea. Those things look killer and are pretty quick. If I were you though, I'd definitely go with a 94 MKII MR2 Turbo. Those things are badass -- IMHO, the quintisenntial sports car.