Low figures compared to what though? If you disregard the Honda S2000 and the Integra Type S, The enging in the MX5 is producing around the same, if not more that other 1.8L's in the market. With it's power to weight ratio, It even mows down the Commodore V6's and the Magna's etc. It does actually have quite a grunty little engine.
I'm no expert though, just my initial thoughts.
PS. I realise the S2000 is a 2.0L engine, but it's power figure is way above other N/A similar sized engines.
2 1/4\" full exhaust with CAI and aftermarket ECU will see you with high 90kw at the wheels which is pretty good.