Just the usual 1986 Mercedes problems:
Cracked dash board
Worn cracked seat leather
Finicky seat adjust switches
Stereo not working
Sunroof not working.
Gas line under gas tank drips gas.
A/C not very cold.
Other than the above minor problems, the mechanical heart and soul of the 560 SEL is solid as a rock.
The 5.6 V8 is smooth as silk. The acceleration is impressive for a 2 ton, 20 year old car with 200,000+ thousand miles, especially the acceleration from the range of 70 mph to 85+ mph. Passing slow traffic going uphill is a dream.
The cornering is not that bad for a big heavy car.
The styling is timeless. The classy look of this car will always be pleasing.
I'm a little worried about the maintenance cost, but prevention is the key to long life out of these cars.
I can't wait to put another 200,000 miles on this car.
Make sure you have the timing chain replaced if you don't know when it was last done or if it hasn't been done in over 100,000 miles or so. It is VERY important to replace the timing chain, guide, and tensioners on the 560 at intervals of around 100,000 miles. These are not zero interference engines, and if that timing chain lets go you could be looking at quite a hefty repair bill (e.g. rebuilt 5.6l M117 long blocks are ~$5k+).
I totally agree, the timing chain should be checked and replaced if neccessary because a jump timing can bend the valves severely which can cost heavily. Since the 560 SEL has the automatic load leveling suspension mechanism, make sure it is working properly, if not, then it needs to be adjusted or replaced.