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actually it depends on how well it was taken care of, if it was taken care of good, then its not worn oout or anything...but...if the person neglected on oil changes, general maintanance and such, then yes, its a lot of miles.
The Cummins motor and trans I took out of a 92 Dodge had 175,000 miles on it, and runs wonderful, barely uses any oil. 1 qt per 3000 miles, not bad for a diesel...
Go to http://www.dieseltruckresource.com/ and search on 'death wobble' it says it all.
I have a 96 Dodge Ram 2500 and as soon as I find a Ford I like I'm trading. My dodge has 250,000 miles on it and I love the engine, but like the other posts said everything else has the same mileage. But it's the death wobble that I can't seem to fix and it's about put me in the ditch several times. I'm going to look at a 1999 F250 supercab tomorrow, and so may be a Ford owner very soon.
Tim