For drift, absolutely! It is a replication of the Losi JRX-S, which is, by all those who have drifted it, a great platform.

For Rally, I suppose as long as it's kept to "pavement stage" rally, it would be a good candidate. I'm even thinking it would rival the Traxxas rally, with a high-power ESC/motor combo (I just can't do Traxxas, as their scales are so out-of-whack, it would look weird beside my 1/10th scale cars), could do "Gymkhana" type stuff as well as the Traxxas rally. Put HPI A-drifts (or other comparable rubber tires) on it, and I can't see why not!