Hello!
Hey man, hope you get one... once you go First Gen MR2, you don't go back.
Being a guy of many small cars ... "MkI RX-7, a Fiero GT, MkI Miata"
Damn, I don't know what you would be afraid of ;p
Ok, first off, I'm on my third Frist Gen MR2 "
http://sites.vwsport.com/sandsz/indexyoda.bmp " (not firefox friendly because I had to spoof a .bmp for the html cuz the main page is my friends VW :ugh3: )
As you can see, my red '88 MKI MR2 is a little different from stock

Basicly you get one of these babies and you'r riding a go-cart.... even though the Fiero IS smaller by a little! Working on this car is NOT that bad (I'm 5'5" so humm...) I've done a MKI MR2 engine swap (blue '85 -> black '88) and it was /not/ fun, but not horribley difficult (hint, jack the car WAAAYY up and drop that engine out the bottom, no need to take the head off plus you dont CRUSH you'r TPS sensor). I've also done the standard oil changes, changed an alternator, had to trace a voltage drop once (was my fault) and it was all pretty easy with the STOCK car jack (sucks a$s though) and my car is pretty lowered!.... so as far as being able to get around, its really not that bad. ALOT better then a Fiero, or so I heard from several Fiero guys.
One thing you'll learn about Toyota (if you get an MR2) is that they don't screw around when designing a car... every bolt, every nut, every wire has a place and function. By driving the Fiero you've prolly already learned about mid-ship cars and how to handle them. Yes, its different, so be sure you know what your doing before you take that turn fast.
As far as for what to look for, go with a '87 or up, the design is a bit different. Later models have Red-Top TIVS engines... so look for that (if they havent painted it), those are a little better. Later models have a better transmission with the option of 2 mount points for your alternator... these are stronger transmissions (less 5th-gear slip out) plus are needed for any kind of future engine upgrade. Real Eairly models have a sway bar in the front and back, but that was done away with until '88 with the super-charged version. Suspension upgrades will make that point moot.
You get FOUR speaker points (woohoo), but you lose the flat space on your door cards to put 6" speakers (boooo), but you can buy '85/6 door cars that flop right on (yayyyyy). The active air cooling system (the opening on the passenger-side back quarter panel that goes into the engine bay) has a cooler design, sticks out a little, plus is made of plastic, not metal. There are a few interior changes (for the better) including putting the E-break on the drivers side of the center arm-rest.
Ok, now for the beef... N/A or super-charged. I say N/A Hard-top. I've had 2 T-Tops and yes, they are fun, but they LEAK. I don't think there is ONE First gen T-Top mr2 that DOESNT leak... seriously. As far as the engine goes, I say N/A simply because of price.... you can get a good solid (from the south, no north rust buckets) MR2 for around $1000-1500. Supercharged ones sell for like $2500 or more, its just crazy... for that extra $1200 I can buy a 20V Silver-Top /w trans/ecu/ignition system/Air Sensor!! Oh yah, you can't rally with a T-Top dang-nabit.
First Gen MR2s are really light, but can be made tough. I have a full suspension upgrade, 15" rims w/good low-pro treads. With the 2" lower it looks pretty sweet, but it handels VERY well.... a little heavier steering, but worth it for stability. I also have a bolt-in roll-cage with removable support beam that goes from center back to passenger-side floor (I just take out the seat). Of course 5-point harness bolted to car plus racing seat blah blah... That makes my car even heavier. I beat the crap out of that poor thing and all it asks is for gas, oil changes, breaks, clutchs, and tune-ups. All I really have to worry about day-per-day is tire pressure.
So "relativly" easy to work on, excellet durability (barring normal maintence), very agile, very rewarding driving expiernce, a fantastic upgradability due to the AE86 popularity and the 4AGE engine.... and MAN-O-MAN this thing is a CHICK magnet (so cuuute)... I say why havent you had one ALREADY!
(email me for anything specific, I love AW11 MR2s)