I own a 95 CVPI, 117 miles, 4.6, so it's very similar situation to yours. IMO that this is one of the best cars I've ever owned. Mine has provided great service and averages 22-24mpg, combination of hiway/city driving.
I have had excellent results using MC oil filters (FL-820S) and MC 5w30 (semi-synthetic blend). The last few changes I have gone with Pennzoil hi-mileage 5w30 with great results as well. I went with the Pennzoil since it has a higher moly content and additional seal conditioners, but the engine runs like a top, so I can always use the MC as well. I really would not use any other weight, but that is my view. OCI's have been at 4000-4500 miles. No need for 3000 mile changes. I add 8 oz of LC at every oil change as well.
Chances are that the rear axle on yours is not a posi unit, neither is mine. I have always used Valvoline or Castrol gear lube and changed it every 40K miles or so. I generally go with the heavier weight lube due to generally warmer climate.
MerconV is recommended for your car's transmission. I use Dexron/Mercon, but will probably go with the MerconV next fluid/filter change. Don't flush it. Drop the pan and change the filter and fluid, including in the torque converter.
Agree with the others to bleed the brakes with fresh fluid (gravity bleeding works OK too) and change out the PS fluid. It can really get nasty.
Also, change the coolant while you are at it - when I did this I also went with a 180d thermostat to replace the 195d unit. No problems with the computer or anything like that.
Change the serpentine belt too. Then check the EGR passages (you have to remove the EGR valve do this). This is a common maintenance item on these cars. The passages get carboned up. There is info on the web on how to do this. Also, if you get a trouble code for EGR Insufficient Flow, it is probably not the EGR valve itself. More common is the DPFE sensor (can't remember if those are the right letters) that tells the EGR how far to open. Very common replacement item - the sensor is mounted on a bracket behind the throttle body. It reads both high and low vacuum from the exhaust flow and is prone to moisture/crud related failure. Kind of a pain to get to along with the EGR location - both to the back of the engine.
Enjoy your car. I'm really happy with mine and would get another in a heartbeat. There are a couple of CV forums that can help you out as well.
[ September 16, 2005, 06:12 PM: Message edited by: Mud ]