The engine is weak on paper, but in practice, it's actually pretty good. Punchy, torquey and sounds great.
For those who have been waiting:
Mazda2 vs. Honda Jazz
*Type100: I tried to figure out if the purported instability under braking was there... couldn't elicit it. The only time I could get the rear end to step out was in very hard cornering, but it was gradual and the rear tires bit again right after and held their line. No fishtailing or anything. Acted just like a Gen 1 MMC Jazz 1.5, actually.
It does feels twitchy under hard braking, probably because the tires have so much bite and the rear end is so light... but before anything can happen, the rear tires lose traction, the rear drums lock up and the ABS smooths braking out... allowing the car to settle again. Probably could use less rear brake bias or rear disc brakes... but it's not a big issue.
Of course, I don't want to risk my neck and the car doing an incredibly dangerous hard braking and swerving test ala Best Motoring. In any ABS equipped car without ESP, the sudden bite of steering when ABS engages can cause the car to veer wildly if it cycles on suddenly after the front tires start sliding. While ESP is available on the Mazda2, we don't get it locally. And unless the Dunlops are total crap in the rain, we don't need it.