If you know its been looked after and you keep it serviced, these cars r solid.
Just shy of 300000 miles on my small bumper 88 8v. Bought it at 104,000 miles and use it for twitching

and 300+ hard miles a week for work. In those miles she has caused me problems on three ocassions - the water pump, a gassing up problem because I didnt stop after the pump went quick enough, and finally the gearbox casing fragging at 280K.
In short - reliable, but you have to stay ontop of the maintenance as parts will go and keep it serviced and watch out for tell tale signs of things going (knocking joints etc).
The really big thing to watch out for is getting so hooked you cant move onto newer lesser cars!