The one thing every one is missing in this argument is insurance cost. Other than being worried about awd or wether or not you need 4 doors or you drive in snow you need to think about insurance. Especially if you're still in college. Call up your agent and get a quote on the WRX 2.0 4 cylinder with 4 doors vs the 350Z 2 door sports car with a 3.0 V6 making 289 hp. You'll probably make your decision as soon as you hang up. My buddy was 21 when he got his Z and he was paying 276 a month.
The Z is a sexy car and probably garners more respect from the general public but the WRX is more easily modified, cheaper to buy, cheaper to insure and you'll be part of a group of people who genuinely love their cars.