Kind of - the 3S-GE BEAMS in the Altezza is quite different to that in the Celica. Same block, i believe, but the BEAMS motor has VVTi, ultra light components (crank, pistons etc) and very high compression. As an engine it is more like the Type R/S2000 or Renault Clio Sport 2 litre (although the Clio Sport's 2 litre is not peaky like the Honda/Toyota motors, with excellent torque from 4000rpm)
Funny - i saw a silver ST205 on my way home from work tonight. They are quite rare down here in Oz too.