Power steering system was leaking when I first purchased the vehicle.
Clutch had to be replaced right away.
A couple minor oil leaks were also fixed after buying the car. Even with these repairs the cost of purchasing was under Blue Book pricing.
Engine developed misfires in 2 cylinders because of worn valve cover gasket and tube seals. Also replaced spark plug wires because they had been damaged by the valve leaking. Total cost under $200.
Being an older car, I feel it's been very reliable. With the exception of the clutch and power steering leak, none of the above problems actually needed to be fixed to keep the car in working order. It drove perfectly reliably with the engine misfires, just notably down on power.
I really love the styling of the '91 model, there are no Toyota logos, and the rear lights are one solid piece instead of separated like newer Celicas. To me, it looks far more aggressive than models even 2 years newer when parked next to each other.
With the engine in fully working order, it accelerates very nicely above 3000 rpm, and sounds fantastic with stock exhaust.
The handling is very good as well, even though I'd prefer less body roll. There is no under-steer what-so-ever unless you're trying to accelerate while cornering. In fact, if you're going fast enough the car will over-steer.
I replaced the stock rims with 17" ones, fitted with Yokohama Avid H4s tires, and that change added a LOT of grip and improved the handling.
I agree that 90-91 models look better than 92-93. Better than 94-99 for that matter. But having owned my 91 convertible 5 spd. for two yrs. now, I find the 5s fe to be no rev master. These days my shifts are at 3000 rpm ($3.11 fuel prices). But I found that 'my' 2.2 had no desire to be spun past 4300-4500 rpm. Sure, it would spin faster if pushed, but it howled and thrashed doing it. R.Masters-91 Celica Convert. 108k miles. (orig. Timing blt.)