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Opinions on purchasing 740 with 200K 700 1989

I am considering the purchase of an 89 740 wagon with the 16 valve engine that has 200K miles on it. The vehicle has been well maintained, but no major repairs have been done. Would it be crazy to puchase such a vehicle and expect it to last for any length of time and be reliable? What are the common things to look at on a vehicle with this kind of mileage? Volvo didn't use this engine as often as the 8 valve, is there any reason why? I would appreciate anyone's two cents.






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