Steering rack replaced at 97,000 miles. Battery replaced at 110,000 miles.
Brake pads may need to be replaced soon.
This update comes as the car has just passed 112,000 miles. I will provide future updates as I continue driving the car.
Overall, I'm very happy with the Taurus. It has been a reliable and smooth running car and the interior/exterior are in such good shape some people think the car is brand new.
The acceleration is good for a car with the base engine, and the handling is excellent. A good car to drive on long trips.
I change the oil regularly, and keep up with all the scheduled maintenance for the car, including transmission fluid and coolant flushes, tire rotations, and the car seems to be holding up very well. I drove my last Ford up to 211,000 miles before giving it to a family member who still uses it every day.
Other than the steering rack (which I feel was a little ridiculous to have to replace), I feel the limited wear 'n tear repairs (battery/brake pads) I've had are fairly typical and I've had to do the same things to every other car I've owned, foreign or domestic.
PROS: Excellent paint/fit and finish. Comfortable interior that still looks new. Great factory stereo system, good performance and handling. Adequate power from the standard Vulcan V6. Transmission shifts as smooth as butter.
CONS: Steering rack replacement was a MAJOR expense ($800 worth)...and when is the last time you heard of a steering rack going bad anyway?! This problem should be recalled as a lot of late '90s Tauruses seem to have it. Driver's seat is a little wrinkly looking.
An addition to my comments above: belt tensioner went bad, caused the serpentine belt to break, and was replaced at 117,000 miles.
I had to replace my steering rack at 40,000 miles. Ford should issue a recall for this problem, since it is obviously a defect in design. My heater stopped blowing hot air at 42,000 miles. One mechanic said that the heating core had to be replaced at a cost of $525 I took it to a radiator shop and they blew out to core for $70. Now it is as good as it was when it was new.