Your concerns are perfectly understandable. We all drive turds, some are reliable, some aren't. My 92 has been the most reliable SHO I've had, because the work was put into it.
I think you've come this far, why stop now? Also, a SLO with 200k still has life left in it, if you're willing to do the work. They're also dirt cheap for parts.
True, True. I kind of wanted a newer used car but holy shit, used car prices are outrages. They are asking $6K+ for a 7-8 year old Tauruses with 100K+ miles on them...
As far as SLO. The engine is all nice, its the tranny that is holding by thread and sticks...