I have 4 of them.87 GXL, 88 SE, 88 GXL and 88 TurboII. These are probably my favorite car of all time. I actually got 2 rotors tattooed on my back.
Electrically they are simple, but the grounding points suck, you need to run extra grounding points to the engine and the body. The nice thing is you can pull the entire fuel side of the harness from the car without taking anything else, except windshield wiper motor. The most complex part is the auto-adjusting suspension, if equipped. It tethers into the brake and power steering, but can still be removed without a whole lot of problems.
The drive and handle beautifully. The rear suspension has a pseudo rear-wheel steering. When you enter a turn at high speed and enough pressure is forcing the car one way, the rear wheels tilt slightly out of the turn to bring the tail around. It sucks to try to drift with that, but they make kits to remove the bushings and make it more solid. As far as comparing to a 1g, the whole rwd aspect and balancing of the car make it handle a lot better, in my opinion. Mazda put so much time into balancing it, to make up for the weight of the turbo setup, they put in a heavier jack and spare tire.
I only ever had one chassis issues with my 88 SE. I have no bracing in any part of the car, pushing around 350hp. It started to twist slightly, with a few visible ripples on the driver side. It still handled fine though. With a small roll bar and a rear strut brace, everything should be fine. You'll probably end up making camber plates at some point anyway, and you can brace it from there.
I'd recommend these cars overall. They are relatively inexpensive and pretty easy to come by. The reliability of the non-turbo is pretty good. I've seen some even reach 300000 without a rebuild. The turbo has a shortened lifespan, but can easily reach 150000 if taken care of. They hate cold weather and have tendency to flood out. That's usually and easy fix, typically caused by a leaking injector. If you do get one, check the pulsation damper on the s4 cars (86-88, series 4. Series 5 is from 89-91) on the fuel rail to make sure the little screw is still in the center of it. If not, replace it. Most of the time it will start dumping fuel over the engine within a week. I just removed it all together and replace it with an other banjo fitting. If you get that straighten out, the car should be great.