No, it's 1.3 liters... hence the 13 in the engine name...
12A 1.2 liters
13B 1.3 liters
20B 2.0 liters
I own a RX-7 (5th edition) and the only reason the engine blew, is because I failed to properly take care of it. I blew an apex seal on the forward rotor, it happened because I was racing a 5.0 stang down the interstate, and I had a small hole in my radiator. The engine got a bit too hot, and blew the seal. Before that, even though I had only changed the oil once during the 25k miles I put on it, it ran fairly strong.
I've seen a 87 TII with 260,000m on it and only one rebuild. These engines will last a while, if you drive it like a sane person(ya right!!!) and take proper care of it(oil changes etc..)
I LOVED my 7 when it ran, and wouldn't take a second thought about buying another one. Currently I'm rebuilding mine to be a show/demo car for my business(car stereo/specialty car body work).
The whole idea of the Wankel (hehe, i love that name) is just amazing to me.. and the fact that I own such a rare car(well, rare if you compare the piston:rotary ratio) is just so cool.
Currently, I'm purchasing a protoge5(which is why i came upon this forum in the first place), which may be a piston engine, but it's still a mazda, and looks pretty pimp. Hopefully I'll be able to drop a new 13b TT in it, in a few years or so... or maybe just supercharge it