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Heard back from the shop doing the PPI. Very clean - no oil leaks, no CELs except a service soon CEL, good compression, brakes and clutch check out. The car passes smog and the exhaust install is clean and well done. He does agree that it is a bit on the loud side, especially at the lower RPMs. There was a CEL for a front light out, but once he cleared that it never came back on. The car does have a cracked front turn indicator, but the light works. No overrevs or air bag deployments. The body and frame have no indications of an accident.
I think based on this check out, I am going to go forward with negotiations. I will plan on a service soon (oil change, plugs, maybe belt) and when the clutch comes up for replacement do the IMS bearing. At 118k miles, that will probably be in another year or so.
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