I've got a 2002 35th anniversary Chevy Camaro convertible that I bought in 2004. It's a V-6 automatic with 61K miles. As you can probably tell by the low mileage I only drive it in the summer. I change the oil every spring and over the winter I run it once a month in the garage for about 1/2-an-hour.
My question: Is this thing a ticking time bomb? Is it time to get rid of it? Whatcha think?
I wouldn't get rid of it now. It still has a lot of life left. Keep maintaining it. Keep changing the oil like you are. I would say now is the time to change the trans fluid and filter as well. Those GM automatics are somewhat weak and they need their servicing. Also other fluids like rear diff oil, power steering fluid (if its not electric), coolant, brake fluid, etc. Spark plugs (when its time), air filter, fuel filter (if its not inside the tank). They are great looking, and fun to drive cars. Sure, they may not be the most reliable, but that car still has a lot of life left. I wouldn't get rid of it now.
Those engines were actually pretty reliable. I would not say it is a ticking time bomb. With good maintenance and care, you could be driving that car for years to come.
It's not a ticking time bomb. It will last a while.