"Well...obviously a Turbo II only has 200rwhp and Ryosuke has like 340-360hp in his beast, so I guess I'm in it for the looks, and not the power, "
-200hp is more than enough for that car, its RWD, which is, already a great advantage, you should first play around in a big parking lot after reading on what oversteer/understeer/countersteer is and how to shift properly and control the sliding on the rear end of your car (for rwd).
ur insurance would be high since the rx7 is considered a sports car, your brothers choice is good, a corolla 85 is a rear wheel drive car thats more economy considered, that way you get the race feel with cheap insurace =], plus with less than 100horsepower you will actually drive better since you'll be flooring that thing all over tha place lol and drifting and shit.
ps.
i wouldnt get an rx7 that old, rotary's are good engines but they run into good problems and cost good money to fix, i'd start with something like your brothers choice, the rwd corolla, thats cheaper and easier to fix, besides, parts for an fc are hard to find and expensive.
i drive an s13-240sx (rwd), but started with a mazda 323 (fwd), i wrecked up my 323 but learned how to drive, im so glad i didnt get an s13 at first, i'd hate myself forever for messing it up