your offer here sounds a lot like the story of my car, i bought my 96 SE with 126k for $2800 (guy dropped price from $4000 cuz one of the valve cover gaskets was leaking and A/C didn't work), car ran fine, interior in perfect shape, and i did have sludge in the engine, i noticed it crusted on PCV valve and oil filler cap. same oil pressure story too, only mine ended with a spun rod bearing and me currently in the process of removing my motor. when i removed the oil pan i saw a layer of sludge about 1/2 inch thick on the bottom.....so my point is, for such high mileage and a motor that probably won't last long, the price isn't right.
"medium dark lichen" 96 SE with SLE package and a 99 GP motor
180 drilled t-stat., gutted airbox
clear corners (don't believe the pic, it'* old), NEW: Red LED interior lighting