I recently purchased an '01 Boxster base from a distressed teenager for $16K. Of course it wasn't exactly pristine - I replaced the front windshield and it needs a new top. Still, all in all I feel like it was a pretty good deal, having only 44K miles. I have been reading all the 986 websites, trying to overcome the learning curve. They have been a great help. I already have had to replace my ignition switch, which was very accurately covered by numerous threads and diy's. Of course suspending my 240 pound body upside down under the dash was no picnic. Still for a $15 repair, having that switch on hand was invaluable.
I also had my gearshift linkage slip off my gearbox, luckily in my driveway. After some research on the web, I was able to snap it back on and ty-rap it in place. A trip to the dealership for a permanent repair was a staggering $1400 quote to replace both cables. I politely declined, but made a mental note to shift a little more gingerly. These kids in Civics try to provoke me to no end!
While I was chatting with the service manager I managed to bring up the IMS, RMS, D-chunk, etc. engineering issues to get some feedback. I asked for a percentage of cars that experienced that, but he refused to guess. I asked what is the bottom line on the worst case scenario - replacing the engine after a catastrophic engine failure. Without blinking or any embarrassment, he said he could get me out the door for $16K. He said the new crate engine has "solved" the IMS issue.
Anyway, the 986 is a blast to drive. I've had two 350Zs, a BMW Z3, a corvette for 3 days (I got my money back!) a Mustang GT and a couple of Bimmer and Audi sedans. The Boxster is the slowest of the bunch but the fun factor is off the chart. I have found out the hard way for me that having a sports car for my daily driver has never worked out. Luckily I have my 4 door sedan with the baby seat for my grandson in the driveway.
Thanks to all for an informative, helpful website and people willing to share their experiences. Happy new year!