Hannes
Most Morgans are set up from the factory with inherent understeer, you can overcome this with power oversteer (but the technique is perhaps best practised on quiet road and definitely not mountain hairpins where there can be big consequences from getting it wrong) If you manage to perfect this then you might want to try 4 wheel drifts , but again please practice in a safe place first. The 4/4 Sport is a lovely responsive car and you should be able to get it to "dance to your tune"
Regarding the front axle , I would first try to make sure that all the geometry is correct (caster, camber , toe-in etc) and that it is equal on both sides , you would be surprised just how many cars are not. (They are now built with a jig which has improved matters somewhat but I don't know the date when this changed. In the old days before the adjustable camber front end came in, we used to fit negative camber plates (only 1 or 2 Deg) which definitely encourages the rear end to step out. If you have the adjustable set up, try adjusting to get the maximum negative you can.
Secondly I would respectfully disagree with Heinz about tyre pressures and would go for higher pressures in the front than the rear, this encourages front end end grip and slightly lessens rear which will help promote oversteer.
I assume you already have brake reaction bars? If not fit them first, a cheap and easy mod before spending any further funds.
If all the above do not have the effect you are looking for, then start looking at some different shock absorbers, and possibly different springs.
The best person to advise on a good set up would be Cain at Wolfe Performance as he uses a car like yours for competition.
