M3W revamp (5-speed Mk1b ?) sounds a bit like what happened to the reprofiled Lotus 7 S4 ... Caterham went back to the S3 when they took on production.
Maybe Morgan need to go back to the drawing board for a Mk2. How about a trad-style wider wedge-style rear end to support rear lights legislation and more boot space? Lightweight 3-cylinder Ford or BMW/Mini engine, or even the Fiat 2-cylinder, like the F series? Add decent roll-bar and provision for a hood? etc etc.
