Sorry this isnt spell checked, I have a paper on Russian Politics to finish.
Originally posted by: swtethan
you can barely feel Vtec on a honda.... but it is there... (used to drive a 2004 s2000)
Thats because you bought the wrong year

You can definately feel my '02, but its still a reletive thing, it is NOT nearly as noticeable as a turbocharged vehicle with a narrow powerband (thinkWRX), but much more noticeable than changes in the powerband of most naturally aspirated cars (think pre-03 mustang cobra).
OP:
1 - HEMI and VTEC have basically no common elements. HEMI is a marketing tool these days, in the 60s/early 70s it was a higher performing v8, like others have said, due to the design of the cylinder head.
2 - As others have said, short exhaust may be good in some extrememe performance situations, but on the street the back-pressure created by exhaust pipes is desireable.
3 - VTEC (besides the technical side which has been explained) basically allows the engine to be tuned for BOTH high torque output (this is reletive, its still a 2.0 liter in the case of my car) and high horsepower. The benefit here can best be demonstrated by going to a drag strip and listening to how terribly many full on drag cars run at idle. Their engines are designed to operate really well high up in the power band, but they sacrifice low end power (actually, as an aside, the original HEMI engines were notorious for this). The VTEC engine in my s2000 basically allows the car to act like it has both a low revving (say 6k RPM) engine that produces a lot of easy to access low end power (for the size) AND a peaky high output motor good from perhaps 6k onward. The tradeoff of this is $$$ and complexity.
Advantages of rear engine vehicles (and mid engine, since the engine is still behind the driver and no vehicle other than Porsche 911 is actually read-engined)
-better breaking
-less power loss
-better at the limit handling
-easier to have a neutral to rearward weight bias
Disadvantages
-most drivers don't want a hood off the back of the car, so the engine is normally less accesable
-less crashworthy in a forntal impact
-poor rearward visibility
-certain parts still need to be in the front (in most cases) such as radiator, AC condenser, etc) so front storage space is oftentimes limited