Camshaft cover gasket, causing oil to drip onto the exhaust manifold and smoke.
Drive belt slipped off.
Belt tensioner bearing froze (new tensioner and belt).
Seats ripped and torn from use.
Convertible top ripped.
Alternator caught fire.
Left rear window stuck, broke trying to force it down.
Ash tray cover broke, no longer stays up.
Arm rest latch broken.
Rust on edges of door and on trunk lid.
Paint faded and clear coat chipping away.
Rubber molding falling off.
Front shocks gone, causing the front to be dropped about two inches.
Transmission slips.
This is a great car! That's what I'd be saying back in 1987. I bought this car as a fixer-upper. It's a great car, but has not been taken care of by the previous owner. For starters, the engine is noisy when accelerating from a stop. The transmission sometimes slips. The front shocks are gone, causing the front to be very low. It looks cool, but it's not very effective when going over speed bumps or under hard breaking (bottoms out). The camshaft cover gasket was replaced because it was leaking oil causing it to drip onto the exhaust. Since I bought it I have been fixing it up to make it run better and more reliable. It has a lot of power for a 4 cylinder, and handles well. It smokes a little, and looks cheap because of the numerous dents, scratches, chipping & fading paint and slight rust spots. It was also broken into when the previous owner had it, so the convertible top was sliced good.
That car is definitely worth restoring. The 2.3 is one of the most underappreciated engines in existance. Sure, a 5.0 will beat you in a race, but the 2.3 4cyl engine is bulletproof. They are extremely reliable and deliver great performance and gas mileage.