Go for it! I see from your signature that you've never owned an MG. We're confirmed Triumph people (we each have one), and we *love* our MGC.
Not to hijack the post, but while we're on the subject of MGC transmissions, my girlfriend and I were just talking about the manual gearbox, and both agreed that we wished there was a lock-out device on reverse. I'm a pretty agressive shifter, and once or twice while entering a curve I've gone from third to second, only to find that I've gone a bit too far and gotten a wee bit of grind. Clearly I'm used to my Triumph and Sunbeam transmissions -- on the Triumphs, reverse is all the way over to the right, and on the Tiger, there's a hefty lock-out.
Anyone ever put in a lock-out on reverse? I imagine it wouldn't be too hard.