Both run and drive, though both also need a little bit of love:
or
The easy solution is to just buy both, but my house sure would be big and lonely after my wife takes all her stuff and leaves me. So I'm leaning towards the 944 because it's got more room, it's a little more rare, and I really don't care for convertibles; but at the same time the Miata is a decade newer, costs less to operate, and is probably a wee bit faster. I'm awaiting more info on both (service history, etc.), but I'm curious to hear the GRM opinion...
Get the Miata, remove the soft top and buy a hardtop for it. Get a SpecMiata hardtop fastening kit and have a newer, cheaper to operate coupe.
Cost for parts and repair will be far more reasonable with the Miata. You get hit with the P Tax when you own a Porsche...
I second the Miata recommendation.
Porsche. Because it's a Porsche.
It's a foregone conclusion what most of the responses here are gonna say, but I'll go 944. Because it's cooler. because you can put 4 tires in the car to go to the track (IIRC). And it has better seats (I only say that because I have a pair of 944 seats and a pair of '95 Miata seats in my shed, and the 944 seats fit me better).
Though....if you're in Atlanta, from what I've seen you should have more selection out there than just those two cars!!!
just a reminder.. the 944 was one of the handling benchmarks that Mazda was aiming for with the Miata.. that should tell you something right there.
I would say that you drive both, buy the best one, and tell us how they drive. Since you want a project, I say the Porsche because it's less reliable . 
(and more uncommon)
Ha, yeah I know what the answer always is but I figured I'd throw it out there anyway.
And there are better examples of both around here for more $$$, but the lower the initial cost the more likely I am to get the wife's reluctant approval.
rustyvw wrote: Porsche. Because it's a Porsche.
Miata. Because it's not a Porsche.
I like Porsches but I missed the boat on affordable 911s. I was about to buy a nice '85 911 a few years ago for $12k but ended up passing on it, now you can't find junk 911s for less than twice that. I've always liked the watercooled cars and I've looked at a bunch, but I've never pulled the trigger. Maybe now's the time...
On the other hand I've driven a few Miatas and they just feel great. I don't fit in an S2000 at all but for some reason I fit perfectly in every Miata I've been in.
Hmmm, maybe the Miata can be a "Christmas gift" for the wife and I can get the 944 for myself... 
Porsche because I always wanted a 944.
Also I've come across two or three five-speed 928s lately in the neighborhood of $3000, if anyone here is into that particular brand of punishment...
Found a bunch up north too, lots of manuals...
Interesting choice...
BTW, I thought that the 944 had rectangular gauges till mid 85... See first link in first post about 84 944......
porsche and put in a v8
or miata and put in a v8 if you are a female, because miatae are girl cars (ducking and putting my helmet on)
944s are cool but in my experience a Mazda that "needs love" is a much better option than a Porsche in the same state.
If it were me though. I'd be basing the choice on what I would want to use the car for. A 944 has a lot more room/everyday usability inside. I wouldn't be able to use a Miata as anything more than an occasional toy.
Now that I've said that I guess I mean I would be more likely to compare a 944 with RX7s.
What kind of work do you prefer. Bodywork or mech? Porsche is a runner. Mazda has a blown hg. I'd rather have a P car, but in this case, I'd vote miata since it's a weekend away from being a driver. The P car is a driver now, but the stuff it needs is time consuming and potentially spendy (paint, dash)
the Porsche does not look to be in too bad of shape. Yes, it needs some paint work, but I do not see much (or even any) rust or dents that need to be addressed
noddaz wrote: BTW, I thought that the 944 had rectangular gauges till mid 85...
I think for the 85.5 they started putting the instrument cluster in one big oval-shaped binnacle instead of having them in a couple of separate ones... not 100% sure though...
oldtin wrote: What kind of work do you prefer. Bodywork or mech? Porsche is a runner. Mazda has a blown hg. I'd rather have a P car, but in this case, I'd vote miata since it's a weekend away from being a driver. The P car is a driver now, but the stuff it needs is time consuming and potentially spendy (paint, dash)
The paint on the Miata needs about the same level of attention. It's pretty dull and needs to be resprayed in a few spots, but then it's also got a pretty good dent behind the left rear tire. The paint and bodywork (for both cars) is something that can be addressed down the road though.
The Miata immediately needs a few hundred dollars-worth of parts for it to run reliably, whereas the 944 runs reliably right now... unless the 944 doesn't have a service history, in which case it will also immediately require a few hundred dollars for parts.
How much do you hate having money in your bank account? That should dictate your answer.
In reply to patgizz: Out of the few women autocrossers I have talked to, none of them even race with a Miata.
i know just, poking the sleeping giant.
Miata, because the other option is a Porsche.
Never had a miata but I have had a 944 ('87) and mine was a nicer example when I got it. It still had a lot of little issues. Get good at things like hatch release adjustment. The cost of aftermarket parts is high on the 944 too.
In reply to singleslammer:
Yeah I've noticed that... the most I would do is an exhaust and suspension and then just tinker with the setup, nothing too drastic. The pics show an intake, strut tower bar, and throttle cam, so there may be other mods already done. From what I've read there's not really much power to be gained from the 8v motor without digging around inside anyhow.
What I've also noticed is that good street tires are nonexistent for the stock tire size (215/60-15) and any other size near it. Race rubber is plentiful if you bump up to 225/50 but I can't find street tires without going skinnier or going to 16" rims.
Hmmm, also just found that the Miata was purchased at auction from a wrecker yard last month...
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