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Good things, it has been said, come to those who wait.

In the case of the Volkswagen Beetle convertible, it was wait and wait and wait.

But the result is good, good, good.

Within perhaps a millisecond of unveiling the updated rendition of the old Bug in the 1999 model year, VW promised a drop top.

OK, it took five model years, but the convertible will be here for 2003, arriving soon after the first of the year.

Couldn’t come at a better time. Beetle sales in ’02 are expected to reach 55,000, down from 65,000 in ’01 and 81,000 in ’00. Every year since the Beetle resurfaced and grabbed 84,000 buyers in ’99, sales have traveled south.

VW is counting on the convertible to renew interest in the machine and account for 33,000 sales out of a total of 75,000 for ’03.

Having tested the Beetle convertible, can’t help but feel 33,000 is a gross underestimate.

When that ’99 model appeared, folks were standing in line to get their hands on one, eager to hand over a blank check and let the dealer fill in the amount.

VW had estimated that if all the planets lined up right, it would sell 60,000 Beetles that first year. Missed the mark by 24,000 units, a pleasant surprise.

Equally important, folks who never visited a VW store before came running to take a look. Some drove away without a Beetle, but with a Passat or other member of the VW lineup.

Beetle proved to be a magnet to get people into the showroom, and VW felt the good fortune.

Only, as Chrysler found with the retro PT Cruiser, the first year is the banner year. Then some luster wears off. The original PT has spawned derivatives with simulated wood body panels, turbocharged engines and, next year, a convertible, which no doubt will be the main rival to the Beetle.

VW sources said more derivatives are planned, but, as expected, won’t comment on what they might be.

The Beetle convertible will be offered in four trim levels, GL, GLS, GLS 1.8 T and GLX 1.8 T. What separates the GL and GLS from the 1.8 T models is engines.

The GL and GLS we tested have the Beetle’s 2-liter, 115-horsepower 4-cylinder mated to a 5-speed manual or new 6-speed automatic with Tiptronic that allows you to shift manually by tapping the gearshift lever without using the clutch.

The GLS and GLX 1.8 T’s will be powered by the Beetle’s 1.8-liter, 150-h.p. turbocharged 4 with choice of 5-speed manual or 6-speed automatic with Tiptronic.

Only there’s a catch. The GL and GLS come out first, trickling into showrooms in January before showing up in numbers in February. The 1.8 T models won’t be out until May.

So if you want a little more kick when you tap the pedal, you’ll have to wait yet a few more months. But you might want to sit down with your dealer now and put one on reserve, because we suspect the reaction to the convertible is going to be very similar to the reaction to t he coupe for ’99. Stand in line with blank check signed.

Though the 1.8 T is the engine for those who demand a little more spunk, the 2-liter does more than an admirable job of moving you from the light.

And if you have never mastered the physical and mental mechanics of shifting a manual transmission, the 5-speed in the Beetle convertible is so smooth any novice should be able to conquer the skill in just a few laps around the block.

But, of course, the top is what draws the attention in this vehicle. The GL comes with a manual drop top, the GLS with a “semi-automatic,” which means you will have to perform a little manual labor to see the sky.

A lever in the header above the windshield has to be unlatched and twisted before you can press the button and let the power take over the task. To bring the top back up, you press the button and then twist and fasten the latch. The most difficult chore in raising or lowering the top is knowing cloc ise from counterclockwise to twist the latch to loosen or tighten the top. If stumped by which way a clock turns, well, there’s always the hardtop coupe.

Be advised when the top is lowered, it isn’t concealed by a tonneau cover, which VW says was done by design to give the car some charm.

Be advised as well that the top and associated hardware mean the rear seat is even tighter than that on the coupe and what’s left of the trunk will hold a small duffel bag or two, but not much more.

Thanks to the inverted bathtub design of the Beetle, when the top is down and the windows are up, very little wind comes into the cabin–except, thanks to the strange workings of aerodynamics, the wind that passes over the car turns to cross it along the back of your head.

No trouble in July, but you may want to opt for the $250 windblocker to keep the wind from slapping against the back of your melon on those November trips with top down. The test car came with the blocker, a screen that fastens into the cabin walls about a foot over the rear seat. Pull the screen up and it locks in place directly behind the front seat backs to provide a barrier to keep the wind off the back of your head and neck. We drove with and without it, and with is the choice.

With the blocker you get an added benefit: Packages slip under the cover of the screen in the back seat so contents don’t go flying.

Base price of the GLS is $21,850. Standard equipment is extensive and includes anti-lock brakes; air conditioning; power locks that lock automatically at 8 m.p.h. and unlock when you stop and engage park; power windows; power mirrors with a yellow/orange blinking light along the outside rim as an added signal to those behind that you intend to turn; AM/FM stereo with cassette (CD optional); 16-inch, all-season, radial tires; cruise control; tinted glass; halogen fog lamps; front and rear cupholders; rear-window defroster; a trio of power outlets for cellphones or other accessories; and automatic supports that pop out from behind the top of the rear seats in a rollover.

Two options are most desirable: electronic stability control at $280, a traction control system that not only senses wheel slippage when pulling from a light but also in lateral moves such as cornering to activate the ABS at the slipping wheel to keep the vehicle stable; and the $250 windblocker.

And the color choice is up to you, but don’t sign on the dotted line until you’ve at least seen it in dark blue, which looks awesome.

Great looks, excellent mileage, decent price and, most important, lots of fun. You may want to get in line now.