I had a 2001 Prelude. I could definitely feel it when the VTEC activated. The car would have completely sucked if it didn't have that.
I have noticed that before Honda put VTEC in the preludes, they had about 130hp, give or take a few hp. After VTEC, they had 190+hp. Trust me, it makes a world of difference.
The Prelude was a fast car. True, only 156lbs of torque. But when it hit 3rd, it was pretty quick. I liked it a lot, and sometimes I think I was stupid to get rid of it.
I've had a Geo Prism, a Chevy S-10, a Ford Explorer, the Honda Prelude, a 2003 Camaro V6, and finally my GT. The Camaro was the first one I ever modified. Out of all the cars, I would have to say the Prelude handled the best and was the best overall quality. My GT is a very close second though. If my GT didn't have any rattles, I would say it was the best interior quality of them all, but since it does rattle and it's only got about 20,000 miles on it... that just makes me

Plus the engine idle in my opinion has never been smooth like it should be (unless maybe when the exhaust was stock).
I have some pics of the prelude and camaro. I was thinking about putting up a website sometime with the pics of them.
I'll bet if you modded a 2001 Prelude, that would be one fast car. I know you can mod anything and make it fast - but I mean just a few mods, not overhauling it. IDK, just my $0.02.