Having owning several aiplanes at this point, the best advice I can give is this: You have to be able to afford to replace the engine the day after you buy the plane, no matter how much time it has left to TBO. You may not necassarily use that money for an engine swap, but something else is sure to come out of the puckerbrush and bite you in the arss. Buying an airplane is the easy part, affording the MX and long term care is the difficult part. I'm an A&P and the costs are still rediculousy high.
'FIXED GEAR' - repeat that 10 times out loud! I'll be entering downwind in my 172 while you are touching down in your Arrow. The extra cost of 10 or 15 knots is just not worth it in my mind. Now that the good weather is here an air taxi will be of great value for me, but it is just a big waste of money in the icing season.
My $0.02.