No Cones, I am about to give you some advice that your folks probably do not want you to hear... Lambo doors, air suspension and a blown 400hp rotary motor will certainly impress other 16 year old guys. In fact, it will probably go a long way to impress almost any guy. At age 16, I would say that impressing other guys should be the very last thing on your priority list. At 16 your one and only concern should be impressing other 16 year old girls.
Good news! Little MGs have almost universal appeal amongst women. And, the odds are that most of the 16 year old women that you know have no idea what the difference is between 20hp and 2000hp. Many of them probably have a vague idea that an engine is an oily, stinky thing that makes a car go. Please bear in mind, I am not saying that all 16 year old girls are like this, many are actually very car savvy, I am merely suggesting you play the law of averages on this one.
So, if you have a running, halfway decent looking MG, well my friend, you are in like Flynn as they say.
My advice: have a few "life experiences" before you turn yourself into a greasy stain on a bridge pylon.
My advice part 2: A 948 under the bonnet is better than a... well anything that isn't in your car and making it go right now.