| Thanks for the responses.
MadBMW, to answer some of your answers:
I live in Northern California, road salt will not be an issue. Thank god.
This will be my daily driver and it will also participate in a variety of local track days. Currently my WRX has done both without any adverse problems from the ritual flogging on the track. That is the kind of reliablity I am looking for.
I am a DIY kind, although I do understand what is over my head.
I am a driving instructor by trade. So being in the education industy doesn't do much for the pocketbook. I want something that can hold up, retain value and won't have any catastrophic engine, transmission or drivetrain issues. That has been my biggest concern.
Time is always an issue, however, having owned a variety of older cars (510s and other Datsuns) I normally find the time to do what is needed. As far as research is concerned, I am a nut for it. Which brings me to your comments about the 328, 325 and 318. I'll start looking into it further.
billB:
I have done a good bit of looking around and have purchased a multitude of cars in my lifetime (a short one though). When it comes to looking at used and second hand vehicles I prefer to stay away from dealers, as they are not allowed to produce any documents on the car's previous life. I've found that dealing with private sellers always is the better way to go. If the previous owner comes out with a folder that hits the table with a thud and has every replaced part, torqued lug and oil change since it was purchased, I know I've got a winner and a guy after my own heart.
Thanks again to both of you. | 
