I've been told by several sources that the MPI is less powerfull than the 200 / 300 TDi's, combined with near as damit the thirst of the V8's. If it really is slower than the TDi's then you'd be better off getting out and walking mate.
Insurance.......
£1100 at 19 is a pretty decent price I reckon, although please listen to my words of advice concerning Adrian Flux.
I have only used them once, and that was when I was running a fully track day prepped 309GTI Goodwood. Think serious engine / brake / suspension upgrades, stripped out & half cage, etc.
I phoned around all the insurance companys, reading off a list every last modification to the smallest detail. Adrian Flux came back as being by far the cheapest, so I went with them, paying the policy in full, (not monthly).
A few days later the proposal and temp cover note comes through the post, but no mods are mentioned. So I fill in the proposal correctly and send it back via recorded delivery. 6-8 weeks must have passed and I still don't have my proper covernote. By now my road tax is due.
I phone up Adrain Flux to inform them that I still don't have my proper covernote, only to be told that during the phonecall I didn't mention any of the mods to them, (a lie!), my insurance had been cancelled by them several weeks ago, (no letter telling me so), and I could go whistle for my money back, (over £1600), as i broke my verbal contract with them by allegedly not declaring my mods. I asked for a copy of the tape of my original phonecall to them, the phonecall where I mentioned all the mods to be sent to me, only for them to say that they had lost it.
It took action by the FSA and a date booked in the small claims court before Adrian Flux finnally backed down and gave me a refund for pretty much the full amount, minus the couple of weeks that I had actually been insured by them. This was in the days before the widespread use of ANPR, so perhaps I was very lucky not to get a tug for no insurance. YOU HAVE BEEN WARNED!
Personally I'd suggest A-Plan, or there was a small firm who advertised in the back of one of the Land Rover magazines who were also competative. Perhaps see if you can also get a limited mileage policy, which are usually capped at a maximum of 9000 miles.