Have you been spending the Holidays feeling like George Bailey in It’s a Wonderful Life? Would the world be a better place without you? If you have to ask, then let’s not go there. But ... the world would not be a better place without the new 2008 Mitsubishi Outlander compact SUV. It arrived in the U. S. market in 2003 and has evolved from its original awkward front view into a very handsome vehicle. The 2008 version is the second generation Outlander, and having driven both, I declare the 2008 is by far the best.

When I was offered the opportunity to escape a few days of Midwestern winter weather to test drive the Outlander in what I thought was sunny Phoenix, Ariz., I jumped at the chance. A few hours later when I got off the plane, I was still jumping but then it was to try to keep warm. Something about a 40-degree Arizona day with heavy rain and a cold wind takes the fun out of laughing at the folks back home.

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As we headed out to Firebird International Raceway, the next day the Convention and Visitors Bureau must have gotten a call because the weather had jumped almost 25-degrees and the brightness of the day brought out a flurry of sunglasses. We were set to put the 2008 Outlander through its paces. The Outlander drives like a car thanks to its new performance-engineered global platform derived from the foundation of Mitsubishi’s Lancer and its next-generation Lancer Evolution. My only driving complaint about the Outlander was the noticeable torque steer upon heavy acceleration. It’s something I trust Mitsubishi’s engineers will address quickly. The company is not known for dawdling over a decision to rapidly correct a problem.

Outlander comes in four trim levels -- ES, SE, LS and XLS -- and each can be had with 2WD or 4WD. The ES and SE come with a 2.4-liter Mitsubishi Innovative Valve-timing Electronic Control System (MIVEC), DOHC 16-valve I-4 that pumps out 168 horsepower and 167 pound-feet of torque. It’s mated to a CVT Sportronic automatic transmission.

The engine offered with the LS and XLS is the 3.0-liter SOHC 24-valve MIVEC V-6. This baby gives 220 horsepower and 204 pound-feet of torque. I’ve driven the new Lancer with the I-4, and its a little speed merchant. However, the extra weight of the Outlander (as much as 500-plus pounds) makes a noticeable difference in performance. That said, you’re not going to be buying an Outlander to use as your entry into the NHRA Winter Nationals. It’s adequate for its purposes. The transmission for the V-6 is a six-speed Sportronic automatic.

As I alluded to earlier, the styling is quite modern and the vehicle’s dimensions make it appear to be the well-balanced machine it is. The styling evokes the athleticism of a sport sedan and the sophistication of a premium SUV. LED tail lamp clusters give the Outlander a distinctive, high-tech appearance. The XLS’s available auto-leveling xenon HID headlamps enhance road illumination and emphasize its high-tech styling. The ES and LS models come with color-keyed front bumpers with material black skid plate extensions. The SE and XLS have a color-keyed front bumper but have silver skid plate extensions.

The ES sits on 16-inch steel wheels with full wheel covers and offers 16-inch alloy wheels with a package. The SE and XLS come with 18-inch alloy wheels and the LS comes standard with 16-inch alloy wheels. All four models are equipped with a space-saver spare tire.

If you’re like most people and only need room for five adults, the ES, SE and LS had you in mind. If you’re in need of a third-row, seven-seat vehicle then the XLS is awaiting your arrival. Total passenger volume is 100.4 cubic-feet and total interior volume is 139.4 cubic-feet. Cargo area behind the front seat is 72.6 cubic-feet.

Loading bicycles or large packages is made easier by the segment’s first and only flap-fold tailgate. When lowered, the tailgate can also serve as a seat for outdoor activities with a capacity of 440 pounds. Why ... even my Uncle Barney could have sat there.

I love the instrument panel. Its two large outer gauges housed by stylistic rims bracket a digital readout of various engine and driving information. Steering wheel audio controls are standard on all models except ES, which requires purchasing a package.

I also like the HVAC controls on the center panel. Three large knobs (see how they turn) do the job and are easily found and operated without the driver taking his or her eyes off the road. There’s also lots of storage and a goodly number of cupholders.

There’s just about every standard or optional feature you’d find in some of the larger luxury vehicles. It depends on your need and budget as to how many of them you’ll equip your Outlander with. There’s a really slick navigation package, a DVD rear seat entertainment package (unless you prefer the front-seat audio entertainment package consisting of such standards as “Are we there yet?” or everybody’ favorite, “I have to go to the bathroom.” Packages for trailer towing, Sirius Satellite Radio and a host of others are available.

I liked the amount of standard safety items, like ABS w/EBD, Active Stability Control, the usual full array of airbags, remote keyless entry, tire pressure monitoring system, etc. With the advent of winter weather and a never-ending supply of nutso drivers, the more safety the better.

Depending on engine and 2WD or 4WD, estimated fuel economy runs from 17-20 mpg in the city and 24-25 mpg on the highway. These are averages. You can do better than that if you don’t take your Outlander to the drag strip.

Mitsubishi’s warranty is also a plus: five years/60,000 miles basic, 10 years/100,000 miles on the powertrain and seven years/100,000 miles for anti-corrosion.

Expect a surprise when pricing one. MSRP for basic Mitsubishi’s Outlander runs from $19,990 to $25,110, depending on trim level and 2WD or 4WD.

The bottom line is, when you’re thinking about looking for an SUV in Outlander’s segment ... look at the Outlander. Do it first and save yourself a lot of time. Then you can drive home and find more reasons why the world would be a better place with George Bailey.