I'm sure there is a big thread or something about it on here.
Can't remember too much about the two, but the 16v has a few cosmetic differences over the 8v RSi, bonnet bulge/vent/grille, bigger front and rear arches, also had 15 inch alloys but the RSi had 14's. They share the same seats, the 16v had oil/water/something else dials not sure if the RSi had these. Also the 16v was available on the Mark 1 phase 1 and phase 2 cars only, so from a J to about an N plate, whearas the RSi ran from a J/K to a phase 3, so about R plate. The RSi, although it shared the seats with the valver, looked exactly the same as the 1.2/1.4 models. Phase 1 RSi's were very rare, but when they stopped doing the valver and William's they made more phase 2&3 RSi's. Seen lots of modded valver engines but I've only ever seen one or two heavily modded 110hp 1.8 8v engines. If there are any still left, there was also a 1.8 RT, which could have been called a Baccara(?). Sometimes had leather(and heated??) seats and also perhaps with an auto-box.
16v is a fair bit quicker than the 8v.. Obviously! Good standing start from the RSi but thats about it. Not sure if the RSi had the same brake setup as the valver?
There was also a Mark 2 phase 1 RSi, which was a 16v. To confuse things even further.