Just to add my view on this, not the 1*2 Vs 197 but the whole running a cheap 197...
Cheaper 197's are fine but understand why and what you are likely to have to spend money on. While I had to do some repairs to my mileagey 197 these seemed common for cars of that age and not necessarily mileage related.
Timing belt - £££
Ball joints, 3 per side, 2 of which typically require replacement of an inner or outer hub carrier. IIRC the hub carriers are something like £200 each, there are 4 in total.
Exhaust manifold, these crack at the flange and the flexi's fail, awful job to remove for repair (if you can find someone to do it) or replacement (something like £600 before fitting).
Track rods - not the ends but the inner rods that connect to the ends. These are around £50 each
Steering columns, several people have mentioned knocking from the steering column, while no firm diagnosis has been made, one suggestion is the PAS motor. This is integral to the top of the column and is around £1,000 plus fitting.
Clutches, 'boxes and slave cylinders can go, but many are fine. The above points will affect most cars at some point.
The above are in addition to the usual items of tyres, brakes, worn interiors, etc.
In summary buying a cheap 197 is fine, but be informed and understand what it has had done and what it may need.
I think the ones to really be cautious about are the more expensive lower mileage examples that are pristine on the surface but still need belts, etc. and may be susceptible to failure just like a higher mileage car of the same age.
