mmmmmm its a tricky one, but before I decided on the ST I looked at the following:
Skoda Fabia vRS - fast enough, economical but dull/cheap interior. I was quoted around 12K for a new one of these in metallic black with 3 years free servicing...... the only reason I didn't get it was the ST looks better and has a better spec for the same money (I hear the paint quality on the ST is poor though?
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Citroen C2 VTS - fast little car, cheap as chips but tiny (also 20,000mile service intervals!!!) No boot unless you give up your rear seats but then how often do you use these? The front doesn't feel cramped at all. You can pick these up for less than £10k
Suzuki Swift Sport - Loads of fun to drive, feels faster than the ST but isn't, cool looking interior, but seats aren't as good as the ST and £11,500 asking price is high for what it is (you can get ST's for under £11k and suzuki wont budge on price yet as its a new model). Shame becasue these are funky little cars
Fiat grande punto sporting - didn't drive this, but expect performance to be like skoda. Looks cool but let down by cheapo interior. Nice basic level spec too. Didn't get around to haggling prices
Or........ You can probably pick up clio 172/182s cheap now that the 197 is released.... fast as hell but insurance cost will be higher than the ST.
Hope this helps