That's a myth....
I have a sele Sportwagon, love it to bits
yes and no. for ages i said that the selespeed was the only thing not to go wrong with my car, then it had an epic fail, ie actuator, fudged gearbox and ecu failed.
if you do go for a selespeed, get one that has had a major failure in recent times, and needed one or more of the following: pump, actuator, ecu.
if its had these, you should be safe. if its a "never had a single issue in 100,000 miles, guv" then its likely, not guaranteed, but likely to go.
a yellow one is unlikely!
assuming the twinspark engine is the one you go for, 1.6, 1.8, 2.0, then make sure the cambelt has been changed when it should have been, every 32,000 miles.
if you find a car that has had a cambelt blow, and a repair, make sure the bottom end shells have been replaced too.
other than that, no massive clonks/squeaks over bumps etc, as the front upper wishones are a common point on these cars.
hope that helps a wee bit.