Throw in frugal mileage, an affordable $19,950 base price and wonderful, wedgy styling that instantly recalls the trusty Honda CR-X of the '80s and '90s, and the Honda might seem an easy small-car hit.

But not so fast. And I mean that literally: With just 122 combined horsepower on demand, including 113 from the Fit hatchback’s little gas 4-banger, Honda’s latest hybrid desperately needs more juice to be taken seriously as even a budget performer. I swear, the '91 CR-X Si that I once drove and loved was quicker -- though that Honda did have the benefit of weighing about 500 pounds less thanks to the lack of airbags, crash structures and other features found on today's rides.

During my driving around New York, the CR-Z (even in its Sport mode, which ups throttle and electric-motor response while firming up the steering) felt no faster, and quite possibly slower, than the roughly same-size but 4-seat Honda Fit. Embarrassing admission: I got beat from the stoplight by a Toyota Prius. Not by much, but the mental humiliation was akin to a 6-year-old taking me out with his Big Wheel. And while the Honda’s tight chassis and steering are pluses, there’s nowhere near the speed or ultimate grip of sporty competitors like the MINI Cooper.

I haven’t yet tested the continuously variable transmission, which adds 4 mpg to city mileage (at 35 mpg versus 31 city for the stick-shift). Early word, though, is that the CVT -- no surprise -- really saps the the Honda’s spirit.

This Honda’s other head-scratcher is its 2-seat layout, which would seem to eliminate a whole lot of potential buyers and relegate the CR-Z to niche status. The blowback over the Honda’s seemingly so-so mileage figures has also been hot and heavy since the car’s auto-show debut. But in fact, the 31 mpg city/39 mpg highway for the manual, or 35/39 for the CVT version, is only mildly disappointing rather than disastrous. Those fuel-economy numbers are both achievable in the real world -- but not when you’re gunning it -- and certainly better than most comparable gas-powered hatches. If you’re expecting the 45 to 50 mpg of the Prius or Honda Insight, forget it, but the CR-Z is definitely the sportier-handling and better-looking car.

The CR-Z turns out to be a fine choice for, say, a singleton in the city who can live with two seats and just wants a great-looking hatch that's reasonably fun, affordable, practical and a snap to park. The question is, how many of those buyers are out there, who are not already being smartly served by cars like the MINI?

Ultimately, Honda’s smorgasbord approach to the CR-Z -- a soupcon of sport, a dollop of leafy green -- may create a confusing dish: a car that’s not quite thrifty enough for hybrid true believers, but not quick enough to satisfy hot-hatch appetites.