I bought an alto 2002 for my families use in Oct 2007 and am really satisfied. It comes with all features that u get in Honda VTi or Corolla Altis like ABS, dual airbags, powered stuff including electric power steering, keyless entry, CD changer etc.
I have driven it on M1 and M2 as well and the performance was OK. You should not expect much from a 660 cc DOHC engine. The car is best suited for local drive and occasional long drives.
I am using it on petrol so no problems of pick or brakes.