The manual transmission is fantastic, with a rifle-bolt slick gearchange (click-click - very positive). Handling is poor on this one because the dampers are now well past serviceable - replacing the suspension will cost around £700 for genuine parts.
The Phase III Sera offers a couple of small refinements - it has a plastic, instead of rubber, spoiler with a high level brake light (the primary identifying factor), three-point belts in the rear on some models, and grey interiors (Phase I and II models have blue or beige). They also have side impact beams.
For servicing it is essential to take the chassis number. My car, built in July 92, required stronger door struts to compensate for the side impact protection, and I ordered the wrong kind. Doors should lift themselves from waist height, if you want to see operation is correct. Strut balancers, the internal component of the struts, actually make a significant difference on older cars. Expect to pay £300 per door to rebuild the mechanism fully.
The SLSS surround sound system is invariably broken. Aftermarket systems cannot make full use of this system, so buy with care. The processor for the sound system costs £1,253+VAT new.