That's a crazy amount of miles! I've heard these V6's are super reliable if maintained properly. Mines sitting at 181k and I'd love to see it get a ton more. This is my first Mustang and if I'm being honest I never was super into them until I got this one. Liked the way a few models looked but just fell in love with the way this one drove.
yes if they don't have issues early on, those engines will run and run and run and run. Just don't get in a hurry. Power/torque is sufficient, but it is NOT a GT (and will never be). Keep the oil changed and a good clean air filter in it, and don't let it overheat. Should last a long time. On those cars, you can go into the cluster and see some data. Before you turn the key on, hold the odometer reset button down, then turn the key on as you are still holding it. Odometer will say "test". Let off, then you can scroll through and see some data, like engine temp digital speedometer etc. Don't rely on the DTC section for trouble codes, get forscan for that. Forscan is cheap and it works good. Look into it. Those cars, also the front calipers have a tendency to stick which is kind of "normal", but I still recommend flushing the brake fluid about once a year. Keep trans fluid changed, and change the rear diff fluid once in a while. I sure liked mine, great little car for the investment (all of $650)-and by the way, drove it home 46 miles, changed fluids/filters, and drove it all over the country. Expect 23-26mpg with automatic, 28 or so with manual.
Finally sold it, but prior I had bought a 93 mustang coupe, 2.3L/5 speed. Didn't run when I got it (but seller said it did...), anyway I got it going for the cost of a 8993 head gasket and a couple hours' labor into freeing up the stuck valves from sitting, and started driving it. Light weight in comparison to the V6 2004, and more fun to drive. So I sold the 2004 and drove the 93. 2018 I sent it in to paint shop (royal blue) and the painter kept it a YEAR and never touched it, so I rescued it and paid another guy to do it. A week after reassembly, I had someone make a stupid offer on it. The original 2.3 came out before it went to paint and I stuck a Merkur 2.3 into it, turbocharged (same as SVO 2.3), did a V6 5 speed swap (better gear ratios), tossed a set of 3.73's in it, V8 brakes, sway bars, and better springs and dampers. Fun little thing and surprisingly quick. And 31mpg. Buyer paid cash, I ran into town and ordered a 22 Ecoboost which came in last October. 10 speed auto. Used the funds to pay the Ecoboost down, left me with about $10k to pay off, which I did last month. Kinda boring with the automatic but it runs great. And 40+ mpg if you drive it right.