The easier way to do this might be with a scissor lift in the garage.  I’ve been pricing these out for a while now and a friend of mine actually has one that he’s happy with.  It will run on 110v so no special 220 outlet required.  It’s low profile, but I’ll still need to build ramps and some other stuff to be able to get the car onto it. However, this, combined with maybe some sort of chain/winch that rests on the top and connects to the engine hooks, could be an easier way to go than the shop crane and transmission jack.  It would probably be about $1500 shipped and weighs 1000 lbs, but it would be used for many things and vehicles.  Plus, I’ve always wanted one.

This lift will require easy storage, so the MR2 will need to be parked on top of it at all times...