It is definately fun, been running them for 10 years, and they can be done affordably, if you are clean. If you want to race, join SCCA, and enter a driver's school.
I chose Spec Racer Fords for various reasons: easy maintenance, over 800 of them in the US, will always have someone to race against, comes down to driver vs money, cars hold their value, extremely safe.
I tried the SRF in iRacing and it was interesting. The iRacing crew own a SRF and brought a simulator to one of the weekends and it was pretty cool.
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