Ive got a 51 plate (AUM). Ive had mine for about a year and a half now and the problems I have had are N/S/F window regulator, sticky butterfly in throttle body, clonking noise from front ARB links and a faulty oxygen sensor. There are a few common faults with them like window regs, MAFs, coil packs, crap standard dump valves but nothing major.
IMO 1st gear is shocking but the rest pull very well. Some say its a boring car but then it depends on personal taste. I love the comfort of these cars hence sell my ERST S2 for one.
With a chip, exhaust and filter on mine I'd be looking at 235bhp ish (obv depending on a decent set up). Motorway miles I can get about 370 miles to a full tank. I have seen 40mpg flash up on my trip but dont know how accurate it was.
The best place for advise is
www.uk-mkivs.net They are very helpful.
HTH