It's depressing but true. Most four seat convertibles aren't much fun to drive. Blame it on the fact that they're usually just a hatchback or a compact saloon with the roof rashered off, thus creating wobbly handling that's usually paired with blancmange suspension in an attempt to prevent chassis flex. It used to be a rarity when cars were designed from the outset as a convertible but that's changing thanks to cars like Peugeot's 307 Coupe Cabriolet. Mediocrity just met its maker.

It seems virtually compulsory for each subsequent cabriolet release to one-up its predecessors in the sheer complexity and ingenuity of its roof mechanism. Although the folding metal roof isn't the newest idea on the block (Peugeot were in fact at it in 1934 with its 401 model), it can still surprise bystanders, largely due to the fact that with the hood up, the 307 CC just doesn't look like a convertible car. The roofline is sleek and low slung in proper coupe tradition and Peugeot gave the car's credibility a major boost by announcing that the 2004 World Rally Car will be based on the 307 CC body. This gave the shape some major exposure.

Since then, we've seen a major facelift carried out. Today's 307 CC shares the distinctive front end that we first saw pop-up on the 407 and the 1007. The gaping air-intake in the front bumper, huge headlamps and shortened bonnet with pronounced side ridges all mark the car out as do the rear LED lights. Inside there's, a revised instrument panel with new graphics and chrome surrounds for all the dials, aluminium detailing on the centre console and revised controls for the air-con system and the stereo.

Four engines are available and neither of the Range-topping 2.0-litre units is short on zip. Less impressive is the performance offered by the 110bhp 1.6-litre engine which labours a little under the weight of that roof mechanism but is affordable and reasonably refined. The 140bhp 2.0-litre engine that that we first saw in the 206GTi will be the choice for most but you can also order a powerful 180bhp unit borrowed from the 206 GTi 180. The final, and most intriguing option is the 136bhp 2.0-litre HDi engine that tops the Range alongside the 180. Its ample torque helps it cope better with the CC's bulk. The 1.6-litre engine can perform the 0-60mph sprint in a fairly lethargic 13.5 seconds but the 2.0-litre petrol cars are better, the 140bhp model posting a time around the 10s mark and the 180 turning in a 9.4s performance. This isn't hot hatch pace by any stretch of the imagination but it is fairly brisk and the 180 model in particular offers useful in-gear flexibility. The HDi is more flexible still because, although its 10.3s 0-60mph time isn't immediately impressive, 320Nm of torque at 2,000rpm is far in excess of the other units. It feels the quickest off the line and through the mid-Range.

"Peugeot have picked a pair of engines that serve up hefty portions of good old fashioned fun"

There's not too much that's old fashioned about the 307 CC. Modern multiplex wiring techniques mean that many sophisticated electronic functions have been included. Peugeot list a series of refinements as long as your arm, most of them concerned with safety. As well as the standard anti- lock brakes, traction control and twin front airbags, the 307 CC features Electronic Brake Force Distribution (EBFD), Electronic Stability Programme (ESP), side airbags, automatic rain sensing wipers and automatic light sensing headlamps, seatbelt pretensioners and pyrotechnically operated rear rollover hoops that automatically deploy if the car thinks that, despite all the electronic safety systems, things are going to go dirty side up. A Thatcham category 1 alarm, electric windows and door safety brackets that prevent the doors opening in the event of a high-speed incident complete the ensemble. You certainly can't accuse Peugeot of ignoring the detail.

Standard equipment on all cars includes cruise control, digital air conditioning, aluminium interior detailing and a full body coloured exterior. The Sport versions feature a comprehensive equipment list that includes 17-inch alloy wheels, leather trim, rear parking sensors, a speed limiter, electrically folding door mirrors and a five-disc CD autochanger integrated into the fascia to prevent theft. The multiplex wiring system means that optional extras such as satellite navigation and the hands-free phone system can be integrated easily and cost effectively when specifying the car. Other features you'll need to fork out extra for include pearlescent paint and a full leather interior trim.

With this emphasis on the upper reaches of the affordable market, does the 307CC run the risk of interloping into the lower end of the premium Audi/BMW bracket? Not a bit of it. With the 1.6-litre model priced at £17,465 and the Range-topping 180bhp and 136 HDi versions pitched at just over £21,600, the Peugeot is still a good few thousand pounds shy of prestige-badged cars from the class above which would need additional - and expensive - optioning to approach the Peugeot's trim levels.

Like many cars of its type, the Peugeot 307CC offers a decent sized boot, the capacity of which is decimated when the hood is folded down but it's a price many are willing to pay for the additional refinement, safety and security that the metal roof affords. Both cars feature a manual gearbox but the 140bhp 2.0-litre petrol unit also offers the option of a four-speed automatic which is a boon for those who want to sup on some particulates in the city.

The 307CC still has plenty to offer. Although the Range isn't the widest and stiff competition is on offer from the Volkswagen Eos, the Vauxhall Astra Twintop and the Megane CC, the 307 remains a sound choice. It will also doubtless be a car that many 207CC owners will want to trade up to. This represents the best sort of business for Peugeot, bringing into relief the clever market positioning of the 307CC. With smart styling, a massive equipment list, solid build quality and a pair of proven engines, the 307CC is still a formidable contender.