3sgte: 3s block, turbocharged, GE head; 2.0L, low compression, performance head.
5sfe: 5s block, n/a, FE head; 2.2L, higher compression, economy head.
3sfe: 3s block, n/a, FE head; 2.0L, higher compression, economy head.
please never again think of putting a 3sfe into an MR2.

it has less grunt than the 5sfe, and does not make up for it with power up high in the rev range. you'll still face many difficulties with turbocharging it, and the results will be worse than a 5sfe turbo.
the engine that you are thinking of that is similar to the 3sgte is the 3sge, not sold in the MR2 in the US. Europe, Japan, and Australia (maybe Canada, i'm not sure about them, crazy canucks) all got the 3sge as their n/a engine. a 3sge swap would be worthwhile, but they're not much less expensive than a 3sgte swap.
recap: 5sfe, okay for what it is. 3sfe, BAD BAD BAD. 3sgte, very nice. 3sge, good stuff.
-Mike