Long post... turn back now and save yourselves...

It's been several years since I was last on here. Sold my 300D 4 years ago and have been driving an '02 Golf TDI since. Now the first born child is getting ready to drive. He's going to get the Golf and I'm interested in a W126 diesel.

I've found a 350SDL locally and I wanted opinions, or at least some guidance on what to look for (or avoid stepping in).

The Good
- 2nd owner. Has all receipts since day one, window stickers, etc.
- Car came out of TN 5 years ago.
- 132,000 original/documented miles.
- Interior is 7/10 (it could be 9/10, really needs a good cleaning).
- Front end suspension/steering redone about 500 miles ago (all but shocks).
- AC converted to r134 by Mercedes before he bought it. It does blow cold.
- No visible rust.
- Body is straight... a minor ding here and there.
- No funny smells indicating water leaks.
- Front end is tighter than any 300D i've driven... I swear it corners better than my Golf.
- new glow plugs
- possibly new injectors... i can't recall.
- turbo replaced 4 years ago
- no splits in dash or window sills
- Brakes redone within the last 5,000 miles.

The Bad (but not unexpected for a 26 year old car)
- missing some interior bits (like the clips that hold the sun visors on the free end, the escutcheon around the seat belt mounts on the b-pillars)
- engine bay needs a degreasing/cleaning. It has the typical diesel leaks/dirt.
- car sat for about 4 years before this owner bought it 5 years ago. He spent some $$ getting it back up to par.
- driver's seat side bolster leather is worn through.
- rear passenger window inoperable.
- AC doesn't blow like it should. I suspect either the vacuum pods that activate blend doors, etc... or the fan motor resistors are shot.
- Interior/exterior needs a thorough cleaning.
- seat belt warning light won't turn off
- low fuel warning indicator is on (even though it had a half tank)
- needs a valve cover gasket
- Transmission shifts hard on light acceleration. Smooths out once your foot is in it. This is an easy linkage adjustment though.

The Ugly
- The paint (dark metallic grey). The hood top and trunk lid got repainted at some point and that paint is decent (7/10). The sides need help (4/10). It will need a repaint within 5 years.
- Owner is a farmer and he occasionally hauls stuff in the trunk.
- still has original spare... i wouldn't trust it.
- lots of leaves and debris in the hinge pockets... ripe for the same rust through/water entry problem that my 300D had.

As far as the owner goes, I trust him. He's not trying to oversell it. I think he knows what he has, flaws included. He's selling it because three other vehicles (farm truck, another truck and a '99 300E diesel). He's also more than willing for me to come out to the farm with my ramps and give it the once over. He also said that he's good friends with a shop near my house and said that he'd be happy to take it there and put it up on the lift for me to look around.

My largest concern is the reputation this engine has for throwing rods. As I understand it, once the engine is burning oil, damage is done and failure is eminent. I want to go through the work history he has and see if there has been any major engine work or replacement done.

What other thinks should I be looking for?