How much is too much?

First I want to let you know this is in regards to a camaro but since these cars are so similar I figured I would post here to. Anyway I was recently looking to buy a 1995 Z28 Camaro. The only problem is it has 120,000 miles on it. It runs beautifully and is very smooth and the price is right ($5,000). I have never bought or owned a car with this many miles on it and am a bit skeptical to buy it. If any one has any info or owns a Z28 with this many miles on it, I would really appreciate your input. Also how good would the resale value be in 6 months to a year?
Thanks a lot for the help.

I personally wouldn't go over 80,000. But then you'll see that price jump up to 7, or 8. And if it's really clean they might try to stick you for 10. But go in with the blue book value, and work from there. And if they are really trying to over price it just laugh at them. But 5,000 sounds pretty good, but like I said I wouldn't go above 80. I bought a car with 90, and I needed clutches, engine, pumps, resivoirs, etc, etc. But then again I have a corolla with 230,000 miles, nothing till now. But the best you can did is take car of it.

Thanks a lot for the input i'll keep what you said in mind, if any one else has some other advice I'd appreciate that to.