Those are built with the LT1 (Same motor I have in my Impala) though I dont know that they were using the crank driven coil then. At any rate those are very dependable engines, my recomendation is just to test drive it. Any major problems should be really noticable (misfiring on certain cylinders, knock, etc etc). If you really are worried you COULD pull the engine and rebuild it. At that high a miles you may want to just cause, but again, test drive it and just see how it runs.
At any rate, it seems like a very nice car! Congrats on the find. And can you recomend any specific problems to look for in those cars (as you said you were a collector), I'm looking into buying one and possibly selling my Imp (my dad keeps begging me to sell it), just want to know what to look for.