I bought my Corolla when it was at 12000 miles. It is at 82000 now. Just recently I had to replace a head gasket (and the interior door handle broke). While the head gasket was an expensive repair, its the first problem that I've had with the car. The steering has loosened over time, but not to the point of concern. The gas mileage is very good (although I don't seem to get as good of mileage as the LE is rated to have - 32 city, 39 highway).
The leg room in the back is pretty bad. I also would have like to have had anti-lock brakes come standard.