Depends on how you look at it.
It performs well, handles well.
Take it to a dyno, and it's pathetic.
Race it against other cars, and it fails miserably.
I had a friend with one, with cold air, headers, exhaust. Went up against a stock honda, with an H22, and it destroyed him time after time.
His actual dyno output, was around 130 or so....still have the chart somewhere.
After that, he sold it, and got a better car. It sure felt fast, and could take the corners like crazy...but actual straight line performance sucked.
Here; for the nonbeliever:
http://www.rx8club.com/showthread.php?t=77031
Stock: 145horsepower. As soon as I find his dyno graph, I can even provide that as a link. 228 rated horsepower, and 145 actual dyno. That's pathetic, regardless of how "high performance" you think it is.