hi kyracer racer,

the V-Spec is a 3 port engine. (refer to http://www.rccaraction.com/articles/dyno_vzbvspec.asp)
however it does make excellent power due to its design.
but the OS is known to have a short lifespan (blown bearings, worn-out p/s)

btw, i'm surprised to find someone who doesn't want/need power.
but it's gd to hear that there's a racer out thr who's willing to go for a lesser powered engine for his races.

i'm curious, is your V-spec losing it's power? and that's why you're looking for a new engine?
if the OS is still okay, you can always 'detune' the power by using fuel with less nitro or more oil. using some pipes/smaller carb venturi will also bring down the power.

but if it's time for a new engine, go for an italian/french engine. they're longer lasting. i'd recommend you the following...
RB S5 or S7II (bout $10 diff) - both have a smooth powerband and are very reliable.
Werks Collari B3 - reasonable price and power. 3ports (if that's wat you're looking for)
Nova B21SB - budget engine and it's italian!

you didn't specify how much you were willing to spend on your next engine, but the above will cost prob ~ $200-240.

btw, nova, top and rex all come from the same factory, just diff branding and the rex uses a diff crankcase. the nova version is still the best imo.

hope my posting has helped you in some way.
cheers!