I second the whole SM issue, as it is a main concern if you are buying a 240 for auto-x purposes. I love seeing jay (psi240 or the guy running a 11.9 in a KA-T

) smoke em when he gets his *** out there. He runs SM as well hehe.
If you want to auto-x and are bent on a 240 I would get a s13 coupe, as the s13's are slightly lighter, with the coupe being the lightest of the s13's. I would stay away from the LE s14 as its one of the heaviest of the bunch. Also keep in mind if your tall not to get the sunroof, as you might be bashing your mellon cover against the roof alot. I dont have the sunroof but recently rode as a passenger in one with it and had very very minimal clearance to the roof with my helmet.
While the 240 is a great car its not the fastest cone dodger. It can be made and pushed to be damn fast but it will take some time in it and some work to do so.
We have one guy here running a sm2 I believe SC miata that is a beast. If I was building up a car with only auto-x in mind I would look at the stout platforms like the miata, and old / new mr2 platform first as they are great in stock form even.
edit: also with the N1 I noticed no low end loss. I noticed very little mid to highend gain as well. But like with any mods I see barely any hp making it to the wheels, as Im equipped with an auto hahaha Youll be fine with it along with many many many others who have run 3" before you.