is it a Zetec (4-cyl.) or Duratec (V6)? The Zetec engine defiantly seems to have fewer probs than the Duratec. I have a friend with a 96 GL with around 130k on it still runs like a top.
auto or manual? just out of curiosity.
as far as the temp guage, the problems that you've probably heard about are related to water pump failures. Which seem to be much more common on the Duratecs. If it is a Duratec, you will want to change the water pump out, they seem to go around 60k. Staying pegged on cold? Someone else would have to answer that.
I haven't heard much about electrical probs with these cars either. Never had any with ours....we have 5 in our family.
All in all sounds like a good deal. KBB lists it at over $7,000.
If you do get it, everything else in life will be secondary b/c you'll be surfing the CEG all day!
Good luck and keep us updated
-neal