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Should I consider this car?

Hi Folks,
   I just was offerred a most interesting vehicle, and I am seeking your
input to help my decision making process (which often tends to ba a little
fuzzy around the edges).
   It is a burgandy 91 200 (20v) turbo wagon in absolulty perfect
inappearence which is available in the $12000 range from a private seller
who is the 2nd owner having purchased it about 8 months ago from the local
dealer who took it in on trade from the original owner who had supposidly
taken excellent care of it at the dealership.  Sadly it has 93,000 miles and
the current owner noted excessive oil consumption and the dealer did a total
engine rebuild because of what I am told was a "cracked piston ring" under a
100% warentee (which expires in about a month) and the car now appears to be
running perfectly. The dealer (Langan Porsche-Audi of Albany) used to enjoy
less than a sterling reputation however (though their repute does seem to
have improved slightly in recent years), and I have never heard much praise
for their work. I do not know if the car has had the UFO brake upgrade and
do not have the first owner's total service history available.
   This is a beautiful car at a seemingly very attractive price. I have been
looking for a much lower milage and slightly newer S4 for several years now,
but it seems to make little sense to pay only about $10000 less for used S4
than for a new S6 (I wonder if any S4's ever actually sell at the $30000+
usually asked?). I am only worried that at 93000 miles I may be obtaining an
expensive hobby (read that headache) rather than an interesting
entheusiast's car and good transportation. How can I tell if the front
brakes (those warping and costly UFO's) have been upgraded? What else should
I look for and what do you all think?  I have loved my 84 4000Q for a dozen
years and know its little quirks well, but I don't know what big problems
may be lurking in this newer and higher performance and much more complex
auto. Should I explore this further or keep looking for that elusive S4 or
give up and go the S6 route (too much to happily spend on a snowmobile
IMHO)? I look forward to hearing from you all and thanks again 
                            Larry Eisenberg
84 4000Q
90 SHO
81 911SC