Thanks guys - appreciate all of the replies! My head hurts now though, I am concerned because if I were to buy this particular one it's through a dealer and you cannot ever get the history - or to talk with previous owners.
And - to top it off there's a nice Mitsubishi Verada on LPG with similar K's and the owner of that sounds like a real fusspot with servicing. Different cars I know - I LOVE the look of the Cougar here:
http://www.carsales.com.au/dealer/de.../?Cr=1&sdmvc=1
But the Verada is pretty cool too:
http://www.carsales.com.au/private/d.../?Cr=2&sdmvc=1