Subaru Repair: Reconditioning engine??, shaft support, cam shaft

Question
Just back from the garage with my 1998 2.2 Legacy after an investigation for an oil leak. It also now does 30 miles less per tank. Mechanic says that the gaskets need changing, and also the front and back cambelts as oil has dripped onto them.  He's not sure if the engine is 'pressurising' and broke the news gently that it's getting to the end of its life (125,000 miles).  I use the car for occasional towing and general driving (about 500 miles a week, mostly motorway).  What are the chances that if I get the engine reconditioned the car will be good for another 50,000 miles or so?  I love the car and am getting a little hatchback anyway so that the Legacy can go into semi-retirement - will only be used on weekends and for towing (maybe once a month).

Answer
The 2.2l in your Subaru can and will go 300,000 miles with proper care and maintenence.Im not sure if the tech working on your car is all that familiar with Subarus based on the content of your post or if maybe there is some mis communication between you and he.A 2.2l has one timing belt,typical oil leaks are the oil pump(which would need  a reseal only),front and rear cam shaft support O-rings,cam seals, rear seperator or inspection plate also valve cover gaskets.Not having your car in front of me its hard to say if its at the end of its useful life but i cant imagine that based on my experiences with Subaru.

Justin
All Wheel Drive Auto