I mean people say that the IMS issue affects maybe 10 percent of 996s, but from my anecdotal evidence, it seems like it's maybe 50 percent.
I think this is the one major issue that really takes a crap on the 996's resale value. As a potential buyer, I don't know whether I should be happy or angry.
The only water cooled Porsches that are legitimately reliable are the GT3s, GT2s, 09+ cars, and the turbos. And coincidentally (probably not), those cars are particularly expensive.