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Ultimately you've got to take each one on a case by case basis. I forget the actual number, but my memory says the failure rate was only something like 5% and in large part the internet and print media has made it into this huge thing. I'm not discounting it as a risk so much as pointing out that if you leave the Porsche enthusiast fishbowl it's not as big of a deal. The average owner in many instances might not even know about it and wouldn't be trying to cover it up.
That doesn't mean that you won't come across "that guy" in your travels. You still need to watch for him, but you can't really decide until you meet him. As we often say, you buy the seller. You've got to go see the car, talk to the owner, and decide what you think once you do.
Lastly, 997 is not the same as 996. If you have a big fear of the IMS issue, then only shop for 997s. That will remove the bulk of the risk.
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1974 914 Bumble Bee
2009 Outback XT
2008 Cayman S shop test Mule
1996 WRX V-limited 450/1000
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