Bought new in July 1986, BEAT THE HELL OUT OF IT for about 12 years and 220,000+ miles. Only two water pumps and about five transmissions, a crank sensor, two accessory brackets, and a cracked DS header (all covered under the GMPP 5/unlimited warranty).
Car was running 13.50@105 with just a K&N, test tube, and 160* thermostat. I added a boost valve and could not understand why the car was slowing down at the track as I was adding boost. This was before I had a scan tool and the benefit of this board (late 80's).
Considering the above and that I only changed the oil about every 5,000 miles with what ever was on sale, I would have to say that we got a fine engine to work with.
The car ran fine except for some oil leaks. I wanted to crank it up a bit so I figured it was about time to go through it.
There is not a day that went by that the car did not go to WOT through 1, 2, & 3. - Lots of Fun.