I've heard of thermostat problems and the belts being a bit of a pain, but not head gasket problems on the V6. A lot of car for the money really, probably partly down to all the fear around Rover disappearing. Most of the MG models seemed to be hurt by that.
Worth a look, but as said above, with ST220 prices dropping, if I wanted a big, fast saloon car in that category, I'd probably try for one of those instead myself.