I had 265k on mine before the head gasket developed a leak, it still ran, I just kept losing coolant, I didn't consider it really a horrible thing, it didn't ruin the engine, I caught it before too much was done and contaminated, but I figured with over 265k miles, I wasn't going to tear the thing down to the block, just to change out a couple of gaskets.
If I did, it would have given me many more years of reliable service, nothing really was THAT bad when it was tore down, no bad wear on anything, typical high mileage engine and leaky valve seals (typical on this era engine)
Something as simple as valve cover gaskets, yeah, I would have done that in an instance.
Clean that engine up the best you can, it helps you see anything new leaking or failing and gives you the ability to catch it before it fails completely, hopefully.
Me personally, I usually have the hood open on my rides 2-3 times a week, checking things out, also listening all the time while driving, paying close attention to any abnormal sounds while driving and even better at stoplights.
Of course that doesn't work out too well with those that listen to music so loud that the people in the next area code can hear it though.
