Cadillac Repair: engine repair, computer error messages, toyota corolla tercel

Question
Hi, I'm a college student so I am trying to make this car last, I've got an 87 cadillac deville with 165,000 miles.  The car was stuttering some particularly when I pressed hard on the gas to accelerate and at highway speeds it is louder and it does more of a shutter and knock sound.  the service soon light came on several times.  I took it in to a cadillac dealership and they  said the computer error messages said there were problems with the "top end" but the mechanic tested it and the engine was getting no "vacuum"  indicating a problem requiring the head be removed and so on.  The mechanic said proceding with the repair would not be cost efficient because the repair would likely result in further problems with the "lower" end of the engine.  Anyways, i am not sure if I should procede with repairs, drive the car till the engine goes out, or try to get a remanufactured engine which will cost about 2500 for installation and 3 yr warranty.  

Answer
Hi Morgan, If the trans hasn't been replaced then it is time to get rid of it because you are on borrowed time. Price out an engine and trans both new, reconditioned and used from a junkyard and I think you will find it isn't worth holding onto anymore. I would recommend a Toyota Corolla, Tercel or Camry as they seem to be fairly reliable and the drivetrain can be expected to last for at least 200,000 miles before major repairs. Consult the consumer reports before buying...It would help to know what codes were set but if a Caddy tech says the repair isn't cost effective then then he's probably right. I would have thought that the camshaft was starting to go round and the main bearings had too much clearance by your description. Fuel pressure would also be a concern especially under acelleration. Bill