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I'm not actually convinced that the W123 is any less reliable than "modern" cars owned by friends and cow-orkers. And what it does need can generally be done by myself in less time than it takes to take it to a mechanic, drop it off, come back, pick it up, etc.
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^^^ this +1
Another poster said something about dumping $$ into a depreciating asset - well, all cars - new and old - are depreciating assets, with newer auto depreciating faster, imo.
To each, their own... everyone has the choice to spend their dollars/time on what they decide is best for them.