Of coarse this IS a BBS for technical questions.
So it will tend to be one sided. Look at the picture pages on the home page, lots of nice looking 914's. Also check out the Owners Stories, and definatly check out the personal web pages.
I would say that as with any 25 year old (car, person, mobile home...) it's suitability for daily running is definatly related to how well it was mantained. Like the previous post said if the PO beat on the car and did halfassed repairs the car will have trouble. Also if it had a good record (I have receipts for $30,000+ going back to the first oil change in '76) but sat for years (mine sat for 7-8 years) there will be problems.
All in all it is a very basic car. No water cooling system (i.e. bad radiators, hoses, water pump failure), no power steering, no vaccuum assist brakes, no electric windows, hard targa vs. soft top or convertables, and th engine is box-o-rocks simple pushrod air-cooled VW motor that is legendary for reliability.
I think of it this way, if normal/reasonable maintainence should cost $100-$300 a year then compile all the years it was abused, (lets say 3) that means (IMHO) that I'd expect to spend $300-$900 right off the bat to get the car in tip-top. My budget is a little (O.K. A LOT) lower than that so I do the work myself, and use used parts. That's where the BBS comes in.
Problems with 75-76 to the best of my knowledge: run a little hotter due to the high backpressure exhaust sytem, and the parisitic air pump and EGR. The interlock seatbelt relay that came on the scene in 74 can fail. The interior colors are out of a bad '70's boogie knights movie, and I personally hate the bumpers, but I'm told that these have no impact on the reliability of the car
Fixes. If possible retrofit the 73-74 exhaust, by-pass the relay, and get seat covers.