just noticed the exige is the same spec as the 111r, just a couple of grand more
i wonder which is better? have to get a test drive sometime
Can of worms...

Basically, it depends what you want the car for and what you would count as 'better'.
The Exige is marginally quicker to 60; the 111R is marginally quicker to 100. However we are talking like .1, .2 of a second which makes no odds to the majority of people and you'll kill your clutch if you try and drive like this all the time! The Exige has better low down acceleration thanks to semi-slicks, but the 111R apparently has slightly less drag at higher speed hence it gets to silly speeds ever so slightly quicker.
On a track, the greater downforce of the Exige (thanks to stiffer suspension, sticky tyres, huge wing and front splitter) will usually make it quicker around the track, but most of the time, track times are down to the driver rather than the car.
Engine specs for the two are exactly the same, although you can get a motor sport ECU remap which takes the cam change down by 500 revs. Many people say if you change the suspension on a 111R to something like Nitrons and run it on semi-slicks, you'll have the same performance in the two cars.
Personally, I prefer the look of the Exige (particularly the chavvy wing

) hence why I bought it (and the fact it's an Exige not an Elise :p ), but in the real world, there is no difference between the two cars.