Bringing back an old/undead subject, but breaking down my observations of pros and cons.....
Cons
-Seating position is too high (I'm 6'4" and my head scrapes the ceiling although I do have a dealer installed moonroof)
-Initial CVT feel and impression is lackluster at best.
-There's no doubt the vehicle is slow. Motorweek has it at 17.4 @ 80mph and a 0-60mph of 9.6 sec. It's actually faster than a Yaris auto, Fit auto, Prius C, etc. and only a tad slower than a Mazda2 manual (17.2 @ 82mph). This is tested with the CVT as well.
-Room is limited (exfor cargo. realizing and acknowledging this, you'll reaize you can fit at least 60 iphones 4s in the cargo area before you run out of space.
-The P175/60R16 tire size on the stock rims is horrendous. So narrow and tall that you feel everything and are diverted all over the place with the steering if you have even the slightest bit of toe-out.
-Stock air intake sucks warm air in form the engine bay, unlike every car on the road today.
-Driving the car "spiritedly" (I mean foot to the floor everywhere you drive) results in a best of about 30-34mpg mixed driving.
Pros
-Short wheelbase and when the traction control is disabled, it's a HOOT to drive (sometimes scary too as the backend is much more unstable), even with the stock skinny tires.
-With the CVT, the more you play with it, the more you learn how it works best. If you need to pass (passing power is limited) then drop to "B" and hold the throttle down making sure you have time to pass on a two lane road as it IS SLOW. The CVT is only really bad from a standstill, on a roll it work perfectly fine and is very intuitive if driven correctly as a momentum platform. The final drive also goes up as far as 5.403, which is partially why the car feels faster than 94hp/89tq in a 2140lb car.
-The car is essentially a mid engine FF vehicle. The differential is in front of the engine and the engine is set back behind the axles obviously, making the balance better albeit in need of work. Stock caster for the front is 7.5 degrees positive putting it into a very effective range with the differential mounted in the front.
-Swapping wheels and tires is only a paypal away. So far, I've had 225/50/15 front and 205/50/15 rear and the car was able to accommodate the width front and rear lowered on Tein springs (yea I know I need AST/Swift springs instead). This summer I had 205/50/15 Advan Neova tires, mounted on 15x7 TE37's and the extra grip/width this gave showed a more balanced chassis.
-Yaris parts other than front struts are pretty much a quick easy bolt on as most of it was recycled over. I have a Whiteline 22mm Yaris rear sway bar on the rear set on it's softest setting with traction/ESP enabled and on the street it's just about right when you lift off mid corner.
-There are companies that do produce aftermarket parts, however they are few. The biggest one is Air Repair owned by Tsukasa Sangawa. http://www.t-san9.com/.
-The car is insanely easy to work on despite how small it is. I can swap the entire exhaust system, secondary cat backwards in about 15 mins with hand tools. Struts with a pitman arm however take a bit longer because of the engine being slightly tucked under the wiper shroud. However it's all quick and simple.
-Swapping to a manual transmission is less than $1000 in used parts from the UK. Just remember that the 6000rpm redline still exists and you'll be shifting frequently, even more so if you go with the shorter gears available in Japan.
-A 7AFE/4AFE header can be swapped in if the exhaust header flange is cut and flipped and it's even easier if you use a Pacesetter 4-1 style header instead of the 4-2-1 styles.
-If you don't drive it like most of us would, it gets decent mpg. My wife drives it in the Summer and has been averaging 38-41mpg over the Pennsylvania mountains 5 days a week on 87 octane (upping octane to 91, decreases mpg for whatever reason). Car is port injection instead of direct injection with 11.5:1 compression obviously retarding it's DUAL VVT-I in order to run the 87 octane.
-Best part is, with under 50k on the odo, you can probably pick one up as your 3rd beater for under $6-7k.
Just my $.02, for what I've learned over a years worth of ownership. It's not the best chassis for a B class (Like the super handling Mazda2), but it's certainly the best A class car that the USA has atm to my knowledge.
Little video of Sangawa-san of Air Repair....
https://www.youtube.com/watch?v=B9x0ar68Y88