I have a '96. F-250 Supercab, 4x4.. 200k miles and the motor is perfect. I lost an idler pulley at about 35k but that was a fluke.
As discussed... it IS the transmission that may give you problems but that is only if you tow a lot. A new one will run you $2500 (rebuilt) but for that you can get a bulletproof aftermarket rebuild.
I have never heard that the CPS was a problem in the older models. The 01's aand up have had some issues.
That motor is damn near bulletproof in my opinion. Go to http://www.thedieselstop.com/forums/f28/ for any problems or advice on what to look for. Don't get scared off by all the posts of things that are broke. I only put that to give you a place to ask questions and get advice.
If you can get it at a good price, go for it! I call my truck 'the Goat' because she has been everywhere.. down a mountain side, through mud bogs (not intentionally), crawling through rocks, and pulling a 20k fifthwheel up the Rocky Mountains. I lost my Tranny at around 120k. Haven't had any problems since.
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Today's Featured Article - Identifying Tractor Smells - by Curtis Von Fange. We are continuing our series on learning to talk the language of our tractor. Since we can’t actually talk to our tractors, though some of the older sect of farmers might disagree, we use our five physical senses to observe and construe what our iron age friends are trying to tell us. We have already talked about some of the colors the unit might leave as clues to its well-being. Now we are going to use our noses to diagnose particular smells. ELECTRICAL SMELLS
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