The head gasket failed at around 142,000 miles. Replaced it myself with a couple friends and rebuilt the block with high performance, forged internals to increase the compression ratio.
Much like the non turbo Mitsubishi Eclipse models, the non turbo Talon cars are a great entry level sports car. In stock form, they can be highly reliable and economical. There is a growing aftermarket for these cars and they can be made to be extremely powerful and quick for a vehicle with basically a Dodge Neon engine in them.
If you are considering a NA Talon or Eclipse, you should know that there are resources available for owners such as www.2gnt.com, where other owners exchange information about modifications, maintenance and repairs. A very worthwhile car with few faults that I can think of. I have been very satisfied with the car for more than 8 years now.
If the standard by which you judge cars is the very mediocre Talon, then there are a lot of Yugo owners who would love to meet you!
I disagree with the above commenter to no end. The Yugo is in no way on the same level as the Talon, which, being a close relative of the Mitsubishi Eclipse, is a far better car. There is a long, long list of cars that are better than the Yugo, my friend, and the Eagle Talon is one of them.