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silver and red is the best colour combo in my opinion - i'd trade a kidney to get a red (or cocoa) interior. looks like the po put a lot of effort into the engine, with less attention to suspension - this may be a place that you will need to put $ in the (near) future. think of it as an opportunity to replace wear items with new bits that best meet your expectations of the car (softer, stiffer, lower, higher, etc.).
i wouldn't be too offput by the lw flywheel. the concern is that there is no dampening of the bottom end with one, so opportunity for things to break in a poorly balanced engine. there are horror stories of this happening, but also many many installed with no issues. you have to weigh risk against the veracity of the internet. hey, it's been in there for a while and it hasn't broken yet ...
otherwise, is it at a dealer? if so, consider borescope and a leakdown (or compression) test. this will tell you the health of the cylinders. and get them to run some data from the computer - overrevs, cam deviations. the first will tell you how the car has been treated in the past, and the second will tell you the health of the cam drive system.
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