Hong Norr has had _great_ success with their 4-cylinder mx3. They really know what they are doing.
Our team (Chariots on Fire), on the other hand, has had a major engine failure for our only two races (dropped a few valves the first race, we think bearings gave up second race). Also our ignition coil in the distributor went out as well, so we'll likely be doing the infamous HEI mod and external coil for the next race. We're running a 2.5L V6 from an mx6 (same block as the 1.8L V6).
Formula Un ran a 1.8L V6 in 2007. They shattered a clutch and the motor seized. From what I've gathered from reading mx-3.com someone sold them a lemon (literally), so it might not be representative of mx3s in general. But from these datapoints, we've got 100% failure rate for the V6 and 100% success rate for the I4.
I think the mx3 has a lot of potential given that it has good gear ratios, a good stock suspension setup, and it's possible to get the car down to 2000lbs plus roll cage.
As for the roll cage and cockpit, there's plenty of room inside the car, but the car is short, which is why it's hard to get in and out (I have no problem but I'm 5'7" 100lbs). None of the budget roll cage kits seem to fit so you'll have to go custom.
Lots of good info on mx-3.com, probetalk.com, mx6.com, and mazdas247.com if you are serious about it.