The Elise won't run 12s. Expect it between 13.5 and 14.0, even though that's really not what it was created to do. It's made to turn, and handle. All the skidpad tests for the new Elise are above 1.0G, most are 1.05G or 1.06G. Anything about 1.0G is mind boggling. The Celica's stock skidpad was about .85G, higher than average for it's class, but nothing TOO spectacular.
The new Exige is the racecar platform version of the Elise, it is absolutely barren. No AC, no radio, no power anything, carbon fiber bucket seats, no carpet, no sound deadener. Nothing. It's only 50 pounds lighter than the Elise, but there isn't anything more than can be removed.
It's got extra aero parts, like a wing and various splitters, and different wheels and tires. and it was made to own all other cars. The Elise is a convertible, the Exige is not. It has the same horsepower and torque as the Elise, but less weight and more downforce.