I just bought a 1987 Spider Veloce as a second car. Unfortunately, it's rapidly becoming the only car I drive, and even threatens to replace my motorcycles as a daily commuter. In terms of charm, personality, and sheer fun the thing just can't be beat. And here in California, the weather was personally designed by God for convertible owners.
My Spider has only 40K miles on it and was meticulously maintained by its former owner. Everything's stock except the paint; the original owners ran an auto paint company and decided they would rather have their Spider a pale yellow. Fortunately, they did a great job on the painting.
Projects are replacing front brake pads and rotors, and probably tie rods and lower ball joints.