Ok, there is a cartoon in Japan which has glorified the AE86, and some fans of that show love the car.
To be honest, the car has very few redeeming features. It has very low rear grip and it doesnt take much horsepower to lose the back end around a turn. I am telling you that the Miata has WAY more grip in the back end, and the Miata is also generally better in every regard.
The Miata does cost a bit more initially in GT3 but I highly recommend starting with the Miata.
I read that the makers of GT3 are fond of the AE86 because it is apparently the last very light RWD car ever made (What about Miata?!). I guess after the 80's most RWD cars including Supra, 300ZX etc. all weigh in excess of 3,200lbs. The AE86 weighs around 1,750lbs stock!
You can read about each car when you go to it in the car dealership and read the scrolling bar along the bottom screen.
There is a lot written about each car, I've read them all. And yes, when you are done reading them you will feel like you are on Acid/LSD or Mushrooms, TRY IT.