I can chime in here.
I have a 98 Camry 4cyl. Bought it new in 98 with 0 miles on it.
Now over 160K and I have had nothing but good things to say about it.
Other than routine maintenance (oil, brakes, tune up, one timing belt change, one battery, one alternator) we have done nothing but put gas in it.
If its a sludger, I must have gotten lucky. Usually do 3-5K OCIs with whatever oil is on sale. I am on my 2nd ARX treatment and haven't noticed any sludge removal so far. Only effect ARX has made on my car is the quieting of the valve chatter. Toyota says I should have the valve clearance adjusted every so often. As of yet, I haven't done it.
I would highly recommend the car to anyone. Just make sure you don't pay more for it just because its a Toyota.
In my family fleet, we also have a 97 model AMERICAN (yes, the worst of the worst if you listen to this crowd much) car that I paid $1000 for and have done nothing to it in 60K miles.
So, in short, just make sure the math adds up.