Hiya Techie,
I have a 1999 Mercury Cougar V6 Coupe, and I have fixed feelings on it.
The good points are that it looks cool, and that it's really fun to drive. It also has a really cool flip-out cupholder and a trip computer, and attracts attention while on the road. That's not always a good thing, however, as I got a few speeding tickets on the highway that I probably wouldn't have received otherwise.
The bad points are mostly mechanical. So far, there have been at least six safety recalls on this car. I've also had two major problems with it, and one of them left me with a car that I couldn't start for a couple of days. Some other little things, like a stuck lock and an automatic trunk release that wouldn't work, were easily fixed by the dealer.
I'd say that it's a decent second car, but I'd pick something more reliable as my primary set of wheels. Oh, and if you get one, try to get it in silver. Most people agree that the car looks it's sharpest in that color.