The general specs: 1985 Toyota Tercel 4wd SR5, 227,744 miles, Tan, 3A-C engine. has been averaging 28-30 mpg.
The good: The engine is running pretty well, though it burns oil. Has a new alternator, starter motor, distributor ( from a recycling yard), wires and plugs. Very minor amount of rust, body is in good shape aside from paint chips. A set of studded snow tires on their own rims, with about 90% of the tread left.
The bad: This car needs a bit of work on the steering/front suspension before it is safe to drive regularly. Both inner and outer tie ends need to be replaced, the right front wheel bearing is going out. Transmission grinds going down to 3rd gear, otherwise fine. Heater control lever is broken. Tires will need to be replaced soon. Car has had a front end collision, which warped the bumper and pushed the front cross piece back a little bit. The radiator was replaced because of this, and the car hasn't had any problems since from the accident. I have an extra bumper to replace the current one, but I haven't been able to pull the bolts out because of the bumper warping to cover them. You'll need to cut the bolts, which I didn't have the tools to do.
Personally, I think that if the front suspension/steering issues were taken care of, this car would drive for quite a while longer. It is just too expensive for me to justify having a mechanic fix it, and I have neither the time or space to do it myself. I've replaced quite a few things on it the past 4 years including the timing belt and water pump.
Anyway, let me know if any of you are interested or have more questions. The car is located in McMinnville, Oregon.
My new car is a 2001 Honda Civic HX. Currently getting 37 mpg, but seeing if I can get it above 40. 
It is great for most of what I do, which is highway commuting, but I'm going on a hike this weekend, and I'd much prefer to drive the Tercel, with the 4wd and higher clearance. Oh well. 
Who knows, I might end up doing that...
) if you are interested.