Well as the previous owner of an '86 AE86 (UK-spec "GT Coupe Twin Cam 16V") before the current '95 240SX SE that I own, I can say that I actually preferred driving the Toyota overall. (More fun)
The Nissan has a more solid feel to it in fairness, however, the AE86 in standard trim (UK version anyway - which mine was) does 0-60mph in 7.8 secs. I had 133mph out of it easily too - other friends had 140mph (the FWD version AE82) in standard tune too
Thats actually faster than the UK-spec 200SX (Turbo) which does that in 8.0 secs....according to information I've read. I'm sure the 200SX will be a much faster car overall though.
When I moved to Hong Kong I was expecting to pick up a supercharged Jap-spec version - the price they were asking for those things over there was crazy (maybe not compared to what people pay here though

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In the UK I'm sure the AE86 was available from 1984 upto 1988, however I think that '87 was the last year of it being a new model.
The car that I bought took me 9 months to find. When I sold it I had over separate 36 enquiries and the first guy that saw it bought it. He came from Ireland for it!!! Told me that in his town everybody owned them. Said there were some 20-30 in his small town alone.
It really is a cult car - you don't realise this until you buy one. I even had people stop at the house and offer cash for the car.