I've had my 97 850 GLT for a couple years now (88,000 miles on the ODO) and I've give the reliability a "B" grade overall. Like many others, I've had to replace the ABS module which was pretty pricy (400 to 500 if I recall). My evaporator is still intact, so that has helped. I've put in an average of about 800 bucks a year so far for repairs, which includes frequent oil changes, regular maintenance, etc. Not bad, in my opinion, for a car that's got a great upside in terms of comfort, style, and performance.

I'd recommend that you read about the potential big repair items--anticipate them and budget for them. I also got my car checked out by 2 mechanics prior to buying. Overall, I have no regrets in moving from my beloved 240 of 13 years to the 850. Good luck.