I participate in an informal local tri-state Porsche enthusiast club that likes to get together and work on their cars and other events. I've driven many of my friends' Porsches through these events, including 3.2L 986S, 3.4L transplanted 986, 3.2L 987S, 3.4L Cayman S, 996 GT3, 997 base and 997S. In all honesty, the 3.2L 986S and 3.2 987S - I could hardly feel any difference in acceleration compared to my 2.7L 986. I definitely felt a difference in power in the 996 3.4L transplanted into the 986 and the 3.4L Cayman S, and of course the 911 models I spoke of above. If you find a really good conditioned 2.7L 986, I would not hesitate to get it. However, if you can find a 986S in similar condition for a little more, def go for that, as really all 986 (base or S) are cheap now. They weren't this cheap 15 yrs ago when I got mine, and don't regret getting my base at all. After driving all the above different models, I don't feel I'm missing all that much in terms of fun and driving excitement in my lil 2.7.
