OK, first thing's first:

3rd gen reliability and 1st and 2nd gen reliability are two completely different things.

1st and 2nd gens, make sure it has oil and water, that's about it. My 91 had a rebuild at 140k miles, it has since gone 40k more problem free miles. I've heard of many people getting upwards of 200k miles on original engines in 1st gens and 2nd gens.

Mazda went overboard on the 3rd gens. Owners didn't understand the complexity of hte car, neglected to perform routine maintenance, engine lets go at 60k, 80k miles. Definitely not a reliability issue, it's the DPO issue (dumb or dreaded previous owner).

If buying a 3rd gen, you need to perform some reliability mods on the car first - get a boost gauge, eliminate the crappy plastic AST, get a DP to replace the mid cats. The DP actually helps to cool (however so slightly) the engine bay as rotary exhaust is pretty darned hot, and the precats just slow the flow.

Jeesh, my 2nd post on this board is having to disspell the rotary's horrible reputation - all because of some dumb previous owners. FWIW, the rotary has an excellent reputation as being extremely reliabile in endurance racing.