Interior was terribly worn when I first got the car.
Car was missing very badly about 2 weeks after I bought it, needed new spark plugs, wires, and an oxygen sensor.
2 of the 4 speakers were blown, and the deck would only pick up the country station (worst problem yet).
3rd brake light does not work.
Burns a quart of oil every 3 weeks.
Air conditioning and heat don't work because of bad servo units in the dash (very expensive).
Transmission began to suffer from 2nd gear "pop out" and liked to grind gears, so it needed a transmission fluid change. Switched over to synthetic fluid and it shifts like a dream.
Cruise control doesn't work.
Paid $1400 for this car near the beginning of the year. Bought over the Internet from Florida (I live in Wisconsin), flew down there, and drove it all the way back with no problems.
It's a true sports car, but it's also surprisingly comfortable and practical (seats 4 pretty comfortably and the big hatch has lots of space). I wouldn't drive it in the snow because these cars rust very easily. (Mine is 99% rust free, I don't want to chance it.) However, it's still a Toyota and will probably drive until the end of time.
I've been spending some money fixing the previous owner's lack of care for the car. The interior has been reupholstered, new speakers and a new deck have been put in, the tires have been changed, the brakes have been redone, etc etc. I will be rebuilding the engine this fall and doing some performance work while I have it apart.
For the performance guys: these cars are pretty quick in stock form. They are EXTREMELY stable at max speed (about 130) and would make a great track car. An intake and full exhaust (everything from the header back) will DRASTICALLY increase performance. The suspension is decent stock, but could really use some better sway bars, or maybe stiffer shocks. Bushings would also help. Don't bother with new seats, the stock seats in these cars will hold you in better than any racing seats, at the disadvantage of making your back sweat.
From a performance point of view the only problem these cars have is the brakes. It's typical to get 1 great, clean hi-speed stop, and have the rest of your stops be pretty crappy. Some slotted (NOT drilled) & cryogenically-treated rotors with high bite pads would probably help. It's also hard to find real performance tires that will fit the stock wheels.
Overall I would say that this is an awesome car. It's a great blend of performance and practicality, and is a fun car to drive and own. The problems I have had with mine are due to lack of respect from the previous owner, and I bought the car expecting them.