Shame... the only thing "yuck" about convertibles in SA is the fact that you live in of the the few countries in the world with the best conceivable weather a Homo Sapien could wish for and you're not taking advantage of that, yet, your preconceptions still blind you... I'd say you're trying to convince yourself here. Luckily enjoying the art of driving and owning a decent vehicle are completely subjective and not up to people like you. It's still a shame though, since I can't help but sometimes pity the person who sits in front of me cooped up in their expensive isolated sedan while I'm experiencing complete and utter bliss in a cheaper mechanical masterpiece that doesn't try and isolate me from whatever is out there. At the end of the day the only thing that counts is what you want from a car, and not what you can get from a car. Image, looks etc. are all things that other people will always try to use to convince you that THEIR choice is the best, ultimately it all comes down to what YOU like about a car, most other people will probably feel different. My choice was pretty much made the day I climbed into an MX-5 6 years ago. So by far the only car I would consider after that is a Honda S2000 because of the way it takes the sports-car concept, improves on it and throws it back in the face of the "non-believers" (uugh...what a beautiful piece of kit that is, if only I had the cash).
I'm not trying to start some kind of flame war here. All I'm trying to say is that people's preconceptions are like a cancer, more often than not convincing the average consumer that a specific need does not exist, when in fact it does. The main reason I love my MX-5 is not because it's fast, or cool, or some lame **** like that. But because I absolutely love what it has to offer while knowing I don't need to earn a momentus amount of cash per year to enjoy the experience. Seriously, owning a sports car should not be based on class and stereotypes but on things like age, driving experience, practicality etc. In fact, I've always felt the Z3 was a super sexy car, the only reason I might feel different now is because the of the Z4 release, but in all honesty, when I see a Z3 driver on the road I still think they know something I don't.
One other thing. I never felt like the "exclusive" factor would ever play a roll. But somehow ever since I've owned my car it's almost as if it's "cool" not to drive something you see on the roads each day. It sounds lame, but going 3 weeks before seeing someone drive the same car you have is somehow fulfilling (haha...welcome to the world of consumerism

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