Now that my GS300 has reached 240,000 miles I think I have full picture of this car. I bought the car ten years ago from dealer's trade-in lot with 100,000 miles on it. No problem on engine and transmission and haven't had check engine light on. Acceleration is great and thanks to rear wheel drive handling is also great, not as great as BMW but lot better than ES series. Did not have many problems but here are the trouble spots:
1. Had to change starter twice, and it's hard to DIY as it's it a tight spot;
2. Radio LCD went out around 200,000 miles;
3. Engine valve gaskets leaked around 180,000 miles but not a bad DIY;
4. Master gasket (between engine block and transmission) leaking, one bottle of Lucas Stop Leak will work;
5. Exhaust shield start rattling, but not affecting anything.
All in all it's a great luxury car with good MPG (23ish).
Bought this car with 178k, now at 200k and still looks and drives like a new car, people constantly think it's 2006 or so, paint and leather quality has really impressed me, nothing has signs of wear and every little thing works, I've seen people who own these with well over 300k so I am not worried, I am sold on Lexus due to the reliability of this car
Update: sold the car with 230k and I never had a single problem with the car, upgraded to a 08 gs460. Loved that car!
I bought it at 94,000 in 2009 and I've driven it for a year now for both local driving and couple of road trips. It is an excellent car for all purpose and is incredibly comfortable. Brakes are something to get used to and the gas mileage isn't great. I've taken it to Lexus dealer for maintenance every 5,000 miles (which is quite costly) and I haven't had to do anything else. I'm definitely hooked on Lexus now.
Overpriced because it is still a Toyota but definitely money well spent. I paid $21,000 with 42,000 miles on the odometer in 2003, it now has 0ver 267,000 miles after changing the timing belt every 90,000 miles and still runs like a dream.
This is my second Lexus and I have been very happy with it. I am adding this review because I couldn't stand seeing it only at a 5! My car is reliable, fun to drive, and a head turner. I will definitely be buying my next car from the Lexus family.