Hi. I'm in urgent need of a nice 2nd car to drive, a convertible. Choosing ain't easy as the proof of the pudding is in the eating of course...but thus far, given my budget which would stretch to 10k for a great car but I'd much rather spend a lot less than that I'm looking at early 60's MGBs and Sunbeam Alpines [I like old classics], a particuler BBR turbocharged MX5, and M100s.
You can get a great Elan for way less than that. I bought a 37k mile SE for less than £6k earlier this summer.
The M100 worries me though. Loads Of Trouble, Usually Serious they say....true for M100s?
Not at all. My previous Elan had 109k on the clock when I bought it, and I put 23k on her in two years. She was reliable daily transport and took me to Paris and Berlin without a murmur.
I had only one 'show-stopper' when the 117k mile starter motor decided that 117k miles was enough.
This reputation they have for leaking all the time sounds like a real drag,
It's also over-stated and exaggerated. Mine leaks a lot when jet washed, but not in the rain. I haven't had 'constant battles'.
and I'm getting the feel that they're prone to head gasket troubles. Is this fair?
Not at all. You're thinking Elises and MGFs. The Elan is not gasket failure prone.
And is the slightly less powerful S2 really so different to drive from the S1 [because the S2 have some nice colours..]?
Some swear by the S2, personally I've never driven one that didn't feel a bit gutless compared to the SE, and they feel like an afterthought built as cheaply as possible to use up a supply of engines to me.....! Though to be fair, they do incorporate some real improvements too.
The real drawback is that there is still a price premium for the S2. For a given amount of money, you'll usually get a better SE.
Can an S2 be chipped to negate that lower powered aspect?
Yep.
I'd really appreciate if someone could reassure me about these cars..fessing up to the faults as well as the plusses.
I'd say:
Pluses: Great car, superb handling, far more practical to live with than an Elise or an MGF, far nicer to drive than a Mazda, surprising fuel economy even when you drive like a loon, sticks to the road like glue, puts a big, cancer-defeating, depression curing smile on your face. There is easy and cheap availability of most parts, and there is a large and vital community able to give great advice and support, and big enough to make 'group buys' of new and improved components. There are lots of specialists able to do the jobs that the home mechanic can't or doesn't want to, and actually, treating an Elan like a normal car and getting it serviced 'on interval', by a professional, is not cost-prohibitive.
Faults: Access to some parts can be very tight, physically. Tame monkeys or children can be useful assistants! The car is as leaky as any rag top. Rear wishbones have an alarming propensity to rust. Stock brakes are terrible and need replacing. Accident damage is expensive to repair. Buy a good one (not necessarily an expensive one!) and keep it maintained and you'll have a cheap, dependable, reliable sports car with real performance. Buy a bad one and you could find yourself with an unreliable money pit.
Older classics like the MGB are FAR simpler to work on, but having owned several of those, I can tell you that they are no more reliable (quite the reverse) and that the constant battle against rust is a depressing and unwinnable heart sink. They don't leak any less than an Elan, and in my experience eat money faster. And they're nothing like as good to drive.