Having owned Mazdas for over 30 years (including 4 929's) I can honestly say that this car was brilliant.
Whilst not the most luxurious model, the car came with aircon, power windows & mirrors, electronically adjustable suspension, cruise control, central locking, power aerial, headlight washers, remote boot and fuel release, headlight/igintion key reminder and a plush, comfortable interior. The attention to detail was excellent - with lots of reading lamps, cigarette lighter and radio control for the rear passengers and lots of useful integrated features throughout. The more luxurious sedans and hardtops had slightly better stereos, a sunroof and mags, but we were very happy with the equipment level in this car.
The car had a very comfortable driving position, excellent soundproofing and a good high-speed cruising ability. However, boot space could have been better if the location of the fuel tank and/or spare tyre had been rethought.
The 2 litre engine with 5-speed manual has good performance - the gear ratios are excellent! This model did not have power steering, but the steering was reasonably light.
The car was a good medium size - it had just enough room for a family of four, but any bigger would have been a disadvantage. This model 929 was a perfect car for us - a safe, quiet, luxury family sedan with decent power and good economy.
The only reason for selling was due to the car's age and kms - we now have a 1989 model 929!
However, 929's have always been loaded with high tech gear - this is where problems can arise. Power window, mirror and aerial (common!) motors can burn out, central locking actuators, the auto adjusting suspension etc can start to go once the car ages. When the car was sold at 205,000km, it was starting to smoke slightly when started up and the front bearing of the gearbox was getting noisy. Apart from this and the aerial, everything else was immaculate. We serviced the car ourselves (every 5000kms) and decided to sell whilst the car was still presentable and everything was working.
The other thing to note about 929's is that the depreciation is pretty bad - bought for $14000 in 1990, the car sold for $2900 in 2001 despite being straight, not rusty and basically immacculate in the body and interior. Every 929 I have owned has had poor resale.
But do not let this deter you, as the 929 is an excellent car!!
My recomendation is that buyers should try to get a well-looked after example that has not done over 150,000kms. For owners, try and sell before 200,000. This way little expensive things will not start going wrong and you can maximize your resale by keeping the car under that magical 200,000km mark!
Keep the reccommended and usual preventative maintence up on these cars and you will experience refined luxury motoring and fantastic economy.