A bit tangential to the current discussion but here goes anway - I bought my 69 4/4 in 2008 for 14k. I've only done about 6k in it, and its probably worth 14 - 15k now. But you could not buy it for any sum as far as I'm concerned. There's no doubt the more I drive it the better it gets, provided I do the appropriate maintenance. Parts in general have not been a problem, so long as you don't want them on a 24 hour delivery. Just about any part can be rebuilt, with sufficient effort and money. I have however failed to fix the temp gauge throughout the 10 years....sigh.
I'm pretty much the same, except for me it's the handbrake warning light rather than the temp gauge!
I bought my 1980 4/4 in 2007, a one owner car with 27,000 on the clock. It is used all year round with occasional blasts to Goodwood, Beaulieu and Brooklands; but it's not my daily driver so at 38 years old it's done a shade under 38K miles. It is serviced annually at MOT time and in 11 years has only failed to proceed twice - once for a flat battery and one puncture.
I agree that low mileage is not a necessity but I certainly wouldn't see it as a reason to avoid a Morgan.
~iw
