For those of you asking, there is a company based out of San Diego that has kits to (and will do for you) put 302's in the Miata. There are other places out there and a sight I found quoted 1/4 mile times in the 12sec range with a stock 302. Looks like you can even do it with the stock hood.
I personally lose to everything that thinks I want to race, unless I'm on the bike. On that I lost twice, once to a couple of guys riding gsxr-750's (who got pulled over by a helicopter 5 miles down the road

, and a 911 turbo on the San Marcos pass. That car was something else.
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1997 Mustang GT "The Freak" - 13.80 @ 101.70, 2.07 60'
1995 Honda VFR750 - not much @ really fast (actual data pending.)
1964.5 Mustang 289
Rice Haters Club Member #13