I owned a street car S2000 for 3 years before eventually buying a 986S (and a Miata before the S2000). I still race a S2000 in the SCCA Touring 3 class.
S2000
positives: unmatched chassis rigidity for a convertible, Civic of RWD cars (reliability, build quality, low maintenance, low parts & labor costs), best shifter (THE benchmark period!)
negatives: Civic of RWD cars (not as inspiring as 986), lack of torque, less steering feel than 986, tight cockpit, pitching stock ride on concrete, limits beyond street legal speeds
986S
positives: torque, telepathic handling, cabin space, frunk, status (doesn't' matter to me), more comfortable ride
negatives: rigidity/cowl shake, reliability, high maintenance/repair costs (parts & labor), interior build quality behind the S2000, limits beyond street legal speeds, easy bake oven (trunk), no std LSD
If money is at all an issue, you can't beat the S2000. 2004 & 2005 are my favorite years; you get the 2.2L, wider 17" wheels, and glass rear window but not the drive by wire and higher seating position that started in 2006 (2000-2003 was 2.0L and 16" wheels).
Power/torque is the main reason I wanted to go with the 986S over the S2000.
If you want to know more, feel free to PM me for my phone number.
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