True, the engine is improved now. It's been stroked to 2.2 liters from 2.0, and makes the same 240 horsepower but delivers more torque, 162 foot-pounds versus 153, at a lower rpm: 6500 rpm instead of an impossibly peaky 7500. So it's got a broader power band and is more friendly to drive, thus easier to drive fast. It's a better car. But, like the Viper SRT/10, it may be better but it's a lot less visceral.

There have been a number of other careful refinements to the S2000, in particular to the handling, starting with the easy things: the 17-inch wheels. Less visible, the frame is stiffer and the suspension is firmer in the front and softer in the rear. On our favorite driving loop that offers a broad variety of corners and road surfaces, the S2000 handled the patchy bits with grace. It's smoother in the rough stuff than the Nissan 350Z, which isn't bad itself. No rattles or thumps, and it followed the contour of the road without softening or neutralizing it. It still has its kart-like quickness; in fact it's better now, with its wider tires.

Like all current Honda automobiles, the S2000's suspension is independent, with control arms (as distinct from struts) at all four corners. It is distinguished from any other current Honda cars, however, by its rear-wheel-drive layout, a platform developed specifically for this limited-edition roadster. (All other Hondas are based on a front-wheel-drive layout.)

The six-speed gearbox has also been improved, with better synchronizers making smoother shifts; its short-throw linkage and aluminum-tipped lever feel like a racecar's. The gear ratios have been lowered by 4 percent, in pursuit of easier takeoffs. There's an electric motor quality to its power, like a Japanese super-bike: no punch in the back, just a sense that with enough forward gears, one might keep accelerating indefinitely.

The brakes are big (11.8 inches front, 11.1 inches rear) and fantastic, vented in front, with standard ABS and improved brake pad material for '05. These are the best brakes we've ever encountered on any Honda vehicle, and they round out a set of sports car credentials that's tough to top.

The key to enjoying the S2000 is to drive it hard: Take off, wind the engine to 8200 rpm in first gear, shift into second, stand on it, and don't shift until you hit 8200 again. This is what the Honda S2000 has to offer over the less-expensive Miata.