Good question! I have now built three compact rally cars and went down this route largely because I prefer the look of them - especially when fitted with the F2000 bodykit as my current one is. Here are a few pics of similar cars:
https://www.google.co.uk/search?q=bmw+c ... d=0CCsQ7AkAlthough the unmodified weights are the same I think you should be able to get more weight out of a compact if the glass is replaced with plexi glass and the hatch replaced with a fibreglass one. I think my car now weighs just over 1100kg (including a comprehensive cage) with everything about as light as it can be.
The biggest disadvantage of the compact is if you intend to run with over 280bhp (ie anything above a standard 3.0 E36 M3 engine) Up to this amount the rear driveshafts, beam and arms seem to hold up pretty well. I have had massive problems since I started using a race engine putting out 330bhp and if you do this the whole rear end needs re thinking. Good luck with it
