Engine was rebuilt soon after purchase due to compression loss in one cylinder (it would have cost almost the same amount of money to tear into the motor to find out exactly what went wrong).
Charcoal canister which collects evaporated gas from the gas tank imploded, and released tiny carbon particles into the carburetor (90,000 miles).
Carburetor was rebuilt at 90,000 miles.
AC leaks some fluid, but with the low cost of replacement fluid (non-freon type) it is not a major problem.
Gas tank had rust holes. Was repaired with JB Weld. I recommend a new tank for safety reasons, though.
Alternator was replaced at 100,000 miles.
Starter was replaced at 120,000 miles.
Lower ball joints, shocks, worn steering parts were replaced at 125,000 miles.
Exhaust system (catalytic converter and muffler) were replaced at 125,000 miles.
Engine rebuilding was something I was not prepared for, but with a new engine the car is much more reliable than other examples, I think.
Gas mileage is not good (15 mpg on highway), but I've heard of much worse cases. Correct carburetor adjustment should improve gas mileage. Before I rebuilt the carburetor myself, the car got almost 20 mpg on highway.
A 6-ft-tall adult can lie down across the front seat if he doesn't mind putting his feet up in the corner between the dashboard and the door. I can comfortably sleep in the car.
The car is reliable and I took many road trips when gas was less than 80 cents a gallon.
Original stereo works well. Speakers are not too bad either.
It's an old car, so of course there are problems, but parts labor are cheap. It is so much easier to work on than most newer cars. Considering the lack of depreciation over time, you can spend $1000 a year on repairs (I never have), and still come out ahead.
I would recommend any GM full-size car from the same era. You can find a reliable car for $1000. If you get one made before '76 or '77, your car may be exempt from emissions test. Basic designs are very similar to mine, I think. A typical example is equipped with a V8 engine between 300 and 400 cubic inches and a very common and reliable 3-speed transmission called TH350 or TH400. You can easily find a $100 used TH350 transmission in a junk yard, if you ever need one. Pick a car that's been well-maintained to avoid spending money on repairs after you get it. Since I don't have to drive long distances anymore, I intend to keep this car for a few more years despite the high gas prices.