here's mine with 200K + on it. I love it. I've towed many cars on trailers with it, goes anywhere, gas mileage sucks, but I've got 31s and autohubs on the front. Rust is a big issue. Most of my truck is gone, someday I'll put the new rear quarters on.
If you are going to drive a lot, do two things: ditch the front seats and put in BMW sport seats (or similar) and get a real steering wheel. These two things make the truck a joy to drive. I picked up a rare Irmscher sport wheel (nice thick grip) on eBay and a pair of 2002 330i heated/electric sport seats at a junk yard for $450. Also pulled the dash apart, dyed the top black, painted the fascia stainless steel, and put in a dealer-new gauge cluster window and while it was out, replaced all the sickly green lamps with red lights (made a big difference in overall feel). A few other new parts and the cockpit is brand new and in style. The red lights really make a difference. Those green lamps are awful!
Only breakdown in one year/17K miles was last night, coolant line running to the rear heater blew off from the clamp rusting away. Fixed it today in 3 minutes.
Working on dash, wiring up steering wheel
Bad pic of BMW seats. super comfy! heated seats cannot be beat!
$3800 is A LOT for a 95. if the body is perfect and has low miles and all records, I still think the most you should pay is $3K. I'd consider a '96-on if you are willing to spend $4k+.
if you are dead set on a 90-95, go here and see if people can give you some advice. good active board.
http://www.yotatech.com/f116/