picks its heels up when asked.
All things are relative. I consider 150bhp to be a sluggish dog
. Maybe when I'm (even) older.... 
And to think it wasn't all that long ago that 150bhp was considered to be pretty decent.
By the late 80s, most 2l petrols were getting thereabouts. Thats 35yrs ago now 
By most, you mean the Cavalier, Early 90's perhaps with the shift away from K Jetronic injection and carbs.
The newest stuff being much more efficient at burning the fuel to the point that they'll either do a gazillion mpg or produce a bucket load of power... Although this almost always requires forced induction to compensate for the lack of displacement so the flip side is extremely short engine life.
A decent tune on a modest NA engine will get the job done for most people. Obviously if you want to get around more excitingly, then you just add boost on a modern lump. Ultimately though you're limited by traction and chassis deficiency so a manual box and 150bhp will be as much as most people can make good use of.
All that said, if you want something more, then get it whilst you can. Do love the burble of a V8
