I've had this car for about 4 years now and it's great. Build quality is fairly good and although it's now showing odd rust patches (it it 20 years old) there are no major concerns. Comfort is great for an old skool car, fair enough there are no heated or fancy tilt seats, however everything is easy reach and laid out practically. Although those who don't like the indicator on the right side may disagree, but in my opinion it's actually more practical as it leaves your left hand free to change the gears. Handling and performance are good. The car as standard tends to be fairly soft though so not so great around the corners especially when combined with the nippy 1.6 4A-F engine, however with a set of good tires it handles well. It's certainly reliable due to it's simplicity, carburetor never fails and it probably wont start showing any wear signs till about 150k mileage. 1.6. Itself is cheap to run and insure, parts are slightly more expensive as some are hard to come by due to the rarity of these cars.
I like my Toyota Corolla. Mine is the 2004 model and I have a lot to say about it. It's a classy, modern interpretation of the Toyota's traditional 'workhorse' model. Whilst the Corolla is reliable and pretty uninspiring, it does have the feel of more of a classy, contemporary and almost luxurious car.
There didn't use to be much to say about the Toyota Corolla, it was just 'one of those things', that got people from A to B. But Toyota have done a good job with later models. The modern Corolla is extremely safe, practical, and well kitted-out. The engine is powerful (if you choose the right one) and the handling is pretty well divine.
The thing that Toyota really shine in is reliability, of course, and despite cosmetic and refining changes the Corolla is just as reliable as it ever has been, if not more so. It doesn't come cheap, but I really wouldn't want to buy any other car.