As much as it pains me to say the Ford Zetec is very good and dirt cheap too. Friend has a westfield with a 1.8 on throttle bodies and that is rapid enough 8-).
Yep. Zetecs are cheap, bullet proof, have plenty of cheap options for RWD drivetrains and lots of tuning options.
The GM C20XE is also a good bet, and will give a little more power at a given state of tune, but they are getting a bit long in the tooth and it's not as easy to find a decent one. They are also more prone to problems, IME, heads going porous, in particular.
The Ford Duratec is a better option than either of the above but finding one and kitting it out with a RWD gearbox will cost more.
Rover K series is very light and can produce very respectable power output. Despite the reputation for HG problems if the cooling system is properly sorted and the engine built with care it's not an issue. I know several people running these at 200+ BHP with total reliability. It tends to need to be kept on the boil, though, especially when tuned.
And so it goes on... Ford Sigma.. 1.4/1.6 Ecotec... Bike engines... Rover V8... American V8s... Really depends what you're looking for.
If it's a fairly lardy car, i.e. Cobra replica, Dax Rush, etc. then engine weight is less important and it'd be rude not to go for a 8 or at least a larget 4 pot tuned or turbocharged.
If it's a light weight car, i.e. Lotus 7 style then a lighter engine will be better, especially if you keep the rest of the car as light as possible, so K series / bike engines are good options.
Bike engines are a hoot on track but can be a swine to live with on the road, so bear in mind your most likely pattern of usage too.