Faults:

Engine needed rebuild, but only after 230,000 miles!

Power steering leaks badly.

Body is prone to rust.

A/C stopped working long ago.

General Comments:

These cars have some serious performance if you know how to unleash them. The 351 Cleveland is one of the most powerful engine ever produced by Ford. I upgraded the intake manifold, carburetor, and camshaft to a more high performance setup when I rebuilt the engine. At first, you're somewhat dissapointed... then you hit around 3,000 rpm and you slowly hear a growl buildup. By 6,000 the engine is full out screaming. I've taken 1st gear all the way up to 50 with no problems, 2nd to 80, no idea what the max speed is, but I'm sure its high. It's fun to watch people's faces when they try to pass you. Downshifting to 1st at 35 mph results in a heavenly sound and feel. The front of the car lifts up and you can feel yourself being pushed back into the seat. The only recommendation I have is to switch to some higher gears (like 3.73 or 4.11) if you want true performance.

The engine is very reliable, but the rest of the car is not. The body is poorly designed which causes severe rust problems (expensive to fix). The power steering leaks like crazy and is difficult to repair.

The interior is very roomy. A normal size person can lean way back and never touch the firewall with their feet!

The car has very good suspension for comfort and decent for performance. I've gone over speed bumps at over 40mph and hardly felt them.

Overall these cars are very cheap to buy, but can cost a fair amount to maintain.