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Tbone,
You are not alone with a valve problem. Others on this site have had the same issue, some have swapped engines with a junk yard (cheap) and others have bought new cars. I never knew that these heads could have a single valve replaced, reliably. Usually, if the head is off, you clean and replace all of the valves.
A lean condition is the normal cause of burned/dropped valves. That is a side benefit of the CEL, a warning to get the condition fixed. I agree that most CELs are for emission control, but they all need to be attended to.
We can't tell you what to do with your engine/car. If you like it, fix it. If you think an upgrade is in order, then get a new car. You are the one in the driver's seat. It depends on how much the car is worth to you and your bank account.
BTW, I consider someone going 65-70mph slow and should be in the right lane!
Klaus
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(1975 164, 1995 854T, 1998 V70R)
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