I am in a pretty similiar situation to laser
I'm 18 and've been saving for "college" since I was 12. With about $13,000 saved up, my parents threw the idea of moving into the basement and getting a new car. Obviously look where I stand

Haven't looked back for a second.
The parents obviously wanted the lesser bland civic, or "even" a focus. But, they were willing to pretty much put in the time and test drive basically any car under 20 grand. So, of course, we did.
The protege was never in my considerations in the beginning. I was interested in the hyundai tiburon, civic si, foci, and the matrix. The hoebag at the ford dealership even had us set up to go with the premium yellow zx5 focus for $14k OTD. I wasn't happy with the car the way it was, but it was cheap. Just before committing to the focus, I was out driving when I saw a shiny yellow protege coming over a litle hill at the dealership. I fell in love with the look totally.
I am a mountain biker, and at the time, was in a band, where I needed to transport a 4x10 "enclosure" that weighed near 200lbs. So I figured the hatch would be sweet.
Turns out I just took my bike rack off the car and have yet to load anything at all into the hatch for the past 6 months.
This car has less power, given. But, in all of the cars, except the gt-v6 tiburon, the pro seemed to have more kick to it. Most of the others had an economy rental car feeling to them.
Also, the fact that the car is discontinued relates to the friendlieness among all the p5 drivers. I would never wave, flash lights at, honk, or even tag another focus, matrix, tiburon, etc. Haha, of course this wasnt the reason I bought the car, as I had no idea, but it is kinda cool to have it like that.
IMO the car wasn't discontinued because of failure. The p5 has recently been a great seller, and has no recalls, if that is still true. And the small amount of TSBs that are on the car, seem to either be fixed completely in the 2003s, or the dealerships mostly willing to help you with if not.
I say go for the p5, but thats just me. One in six billion
try out the cars! find out for yourself!
good luck-