[pop80_uk]

Take it to a body shop and get it mopped. This removes the top layer of laquer, I believe the MX5 had 4 coats, and should be cheaper than a flash over and bring your car back to a shiny finish.
The problem is red! The pigments in red paint fade quickly and turn pink, its all to do with the way the pigments refract light. Red cars fade after time.....so fading is the real problem you will have with your MX5.

Hope this helps!