Just bought a 166 having had 2 Alfas before (and driven another 4 in our family). If you can cope with a few "foibles" and have the money to keep on top of the maintenance, you'll find them very reliable and great fun.
I did 60,000 miles in 18 months in a 75 Twin Spark about 9 years ago and loved every minute of it.
What 166 are you after? Mine's a 1999 2.5 manual - all the loverly noises of the V6, a bit quicker than the twin spark but not as thirsty as the 3.0.
Anyway, welcome to AO and I hope you find the right 166 for you.