I actually really enjoyed that race - I have the Logitech wheel, and the Miata is really fun to drive with the wheel, great feel.
Aside from the feel of the car, the Miata also makes its superhard tyres last for ages, so I really concentrated on chipping away at lap times and optimising braking points, turn in, that sort of stuff. The laps passed by quite quickly.
neon_duke's comments are right. Why are so many people obsessed with monster horsepower? Focussing on the 800hp+ cars really does narrow the focus of the game.