A VR-4 would be faster, but would also be inherently more complex with it's all wheel drive and twin turbo design...therefore it seems like a VR-4 could be just as bad--if not worse--reliability-wise than a 7MGTE MKIII.
You could always fight fire with fire...find an old Fox-body Mustang (79-93) for cheap and do a few bolt-ons. Not exactly the pinnacle of reliability or efficiency, but they're cheap. Plus you'd be getting the 5.0 in a lightweight shell-2775lbs if you can find a nice 5.0 LX coupe. I fear you may feel an insatiable urge to grow a mullet if you went this route, though.
Plus as everyone knows, pushrods are FTL :icon_bigg
Seriously though, I'm on the search for a good daily driver as well. I've narrowed it down to a few contenders:
1. Jetta TDI - No, it won't beat a Mustang GT...unless you're looking at MPG numbers. How does 45-50 mpg sound? From a modded diesel? With a chip, new injectors and a few intake mods, you could romp on some unsuspecting Honda owners...Plus if you go w/ the older (99-04) style they're pretty cheap.
2. Lexus IS300 - This is what I really want. 2JZ-GE, RWD, 4 doors. All the Lexus bells and whistles, plus Toyota reliability. I'm hoping in a few years the cost of going GE-T comes down some more--right now it seems to be hanging around $6000-7500 to do it right on these cars--but that's an option too once financial situations improve. Plus they're getting cheap - you can find them for under 15k if you look.
3. Subaru WRX - The beauty of all wheel drive...and all the weight, complexity and other penalties that come along with it. They're getting cheaper though, and stock or with mild bolt-ons they're still pretty reliable, as long as you don't abuse the transmission. Also getting cheaper--you can find bugeyes for $10-15k with mods now.
HTH, not sure of your price range--if you're looking at sub-$10k, performance AND reliability isn't really that viable. If it was, like suprarx7nut was saying, we'd all have cheap dd's that were faster than Mustang GTs...