My engine lost compression. Had to replace engine, but this is normal for this vehicle. Replaced it with a JDM engine and boy does it go! Other than that, nothing has gone wrong with the car.
Buy one if you can find one. Make sure you can find a competent mechanic for the car first. Once you drive one of these beasts, your hooked for life!
I am the owner of a 1993 R1. I have owned six Corvettes (1966-1971), several of which were 427s and 454s. Quite simply, this is the most fun, best looking, fastest sports car I have ever owned. I think you can expect to replace an original engine and mine has been replaced with a number of high performance goodies. I have owned the "R" for 11 years and have thought about selling it and building an AC Cobra replica. When decision time came, I could not stand to part with my little beast. In my opinion, there is no other vehicle one could buy at three times the price of a good RX7 that would begin to compare for sheer fun and exhilaration.