If you enjoyed the relatively subtle Imprezas of yore, then you'll probably like this one. Being a five-door it does without the skyscraping wing; being a boggo WRX its bonnet bulge hints at the power within rather than looking extremely pleased to see you. It doesn't even have gold wheels and pink logos, though it does have a bazooka-gauge exhaust tailpipe. And the tailpipe is the clue that this is, in fact, rather more than a regular WRX.

This one packs a 261bhp punch, courtesy of a factory-approved Prodrive performance upgrade, which comprises a reprogrammed ECU and freer-flowing exhaust. That's a whole 40bhp more than the standard WRX; indeed it matches the output of the STi model. On peak torque it actually outdoes the STi, with 257lb ft at 3500rpm compared with the STi's 243 at 4000 (the regular WRX makes do with 221lb ft at 4000rpm). And if you don't like the five-door, you can have it in the traditional four-door saloon, too.

Of course, if you want the 'ultimate' new-generation Impreza with the wings 'n' wheels and more aggressively tuned steering and suspension, it has to be the firebreathing 300bhp STi PPP (see issue 053). But as we've already stated, the standard WRX is in many ways the better all-round steer. Give it an extra 40bhp and it ought to be an absolute belter. This then, on paper at least, looks like a no-brainer. Better drive it though, just to be sure.

First impressions: usual figure-hugging seats, slightly over-sized Momo wheel, neat but unexceptional facia and trim, a bit more menace to the throbbly boxer engine note. Slot the slightly recalcitrant-from-cold five-speed gearchange. The engine feels a touch laggier than the standard unit, which spreads its torque more evenly; when it's blowing hard, this one delivers in more of a rush. But boy, it certainly delivers. You have to go the full STi PPP for the complete take-your-breath-away experience, but this is serious thump-in-the-back performance, and the big-bore exhaust provides a suitably epic soundtrack, from low-rev throb to full-blooded bark when you keep the throttle nailed.

Subaru claims 0-60mph in 4.8sec and 0-100 in 14.1 (we recorded 5.7 and 15.7 for the standard WRX) and neither seems far-fetched. It's the mid-range muscle that really does it. Whatever the gear, it kicks furiously from around 3500rpm and maintains a solid shove to 6000rpm, though from that point it starts to tail off.

The beauty of the chassis is that it feels well able to handle the extra power without ever feeling inert; you never feel there's more grip than handling. The five-door feels subtly different to the saloon; a little softer-edged, a touch more inclined to understeer where the saloon errs more towards neutrality. A little more body roll, a tad more loading of the chassis; it's not ultimately as sharp as an Evo (or an STi) but it's a friendlier place to be. It allows you to feel your way around the limits of grip.

In the dry you've got to try very hard to get it seriously out of shape. On a track this could be frustrating; on the road it's safe and tremendous fun. The sensation of the car moving around beneath you, erupting out of corners, is totally grin-making. The only real flaw in its dynamic make-up is steering that's just a tad light and lacking in feel, but we're nit-picking.

Our recent group test (053) pitched the latest mega-hatches, Golf R32, Focus RS et al, against the standard WRX. The R32 just pipped the Subaru, but I have a hunch this Prodrive package would turn the tables.

And it's a bit of a steal, too. The conversion costs ΂£1600, which is pretty good value in itself, ΂£ per bhp. Then you remember that the new WRX saloon costs just ΂£19,995 (the five-door is ΂£21,495), which is ΂£1500 less than the old model. In other words, for virtually the same price as last year's Impreza, you can have the very latest model - and have it with a thumping 261bhp. There's life in the old dog yet.