After owning a non-exotic sporty car (not even close to Ferrari, Porsche, or even a `Vette or Cobra SVT), I have to say, invest.
An investment in property will usually appreciate and you can get equity. A car depreciates, only gaining value should it become rare, and only if you spend gobs of money to constantly keep it in perfect shape.
A Ferrari will require premium fuel in huge gulps that will leave shark-sized bites in your wallet. My car in comparison, gets very good gas mileage, but as it uses premium fuel, I'm still feeling the pinch.
A Ferrari's maintenance costs are ridiculous. Parts take longer to get, and cost more. Maintenance is expected to occur at more frequent intervals than an average car. Insurance will also be truly outrageous, not just because of performance, but because of parts and repair costs, which are estimated into your insurance price.
If you do any travelling that requires packing bags and equipment, the Ferrari ain't it. Not a whole lot of space.
A Ferrari will get you hot women on occasion, but if you're not careful, may require you to trade said Ferrari in for a minivan.
I'm debating in the next year or two selling the Acura Integra GS-R I have. I'll likely go for something like the new Mazda 3 five-door. Sporty, but uses regular gas, has room to put things in, and has an option for MP3 playback. Reliability is expected to be good as well, something you aren't as likely to find in the exotic car market, especially the used market. Being sensible doesn't sound fun to most people I know, but it only takes one emergency in life to be glad you were.