Even real Corollas through the early 90s used Delco CS (Crap Suck)
alternators and Harrison radiators.  Both major failure items.  Also,
the exaust manifolds pre-98 would crack on occasion.  I'd like to think
GM had a hand in that too : )

Comparing 96s to 98s in your hypothetical question is difficult as they
are two different bodystyles with different engines.  I feel good
recommending the 98-up style because I've noticed no major problems
with them so far.  The 97-back models are great too with the above
mentioned exceptions.  But with a Nippondenso replacement alternator
and an aftermarket radiator you have a solid, well-built car.  The
newer 98 with higher mileage would "suggest" highway miles, which are
theoretically easier on an engine.  And long trips are better for
engines that don't experience prudent oil change intervals.  A 96 with
77k could be a creme puff, or it could be trashed and unmaintained.

When you decide on a car that you are willing to pay for, first pay a
trusted mechanic .5 to 1.0 hours labor to give it a complete
inspection.   He should be able to determine if it has been maintained
or not and certainly if there are any current problems that require
repair now.

As far as 97-back Prizm vs. Corolla, if you are comparing a CS /
Harrison equiped Corolla they are primarily the same save for interior
details and dash electronics.

Toyota MDT in MO

I was shopping for used Corolla's, and i found a guy that had 5 used Corollas
--- but one of them turned out to be a Geo Prism.   He claimed that the '98
prism is identical to the Corolla, built in the same factory, same engine, same
basic frame.   It sure looked to be an accurate statement after inspecting the
car.   But I have a few questions:

1.  Other than the inherently lower resale value of the Prism, and uglier logo
on the hood of the Prism, is there any other reason to prefer a real Corolla
over the Prism?
2.  How much of a price discount should I expect for the prism versus the
corolla?    
3.  This particular prism was a '98, with 96K miles, AT, no power windows or
locks, but it had a tachometer (the other Corollas I saw did not have tachs).
Price was $5395.   It did seem like a bit better deal compared to the corolla's
he had on the lot.

Also a general question on choosing a Corolla/Prism...If choosing between a '96
with 77K miles with power windows and locks and alarm (bit higher end model),
versus a '98 prism with 96K miles, but no power windows or locks or alarm,
which car would be a better buy if the prices where the same?   What ages a car
faster....miles or years?  

Any comments/recommendations?

thx...Paul