auto rx and beaters

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ok, I admit I'm a cheap-o
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but I have been thinking about this. finding a used honda or toyota for less than a $1000 and using some auto-rx in the engine and tranny. anyone ever try this? getting a good deal on a used beater say with high oil consumption or slippage in the tranny but was able to restore to somewhat driveable condition with the treatments. I've been thinking about the pros and cons especially when my friend advised that I shouldn't but a beater because they are money pitts. anyone have any luck with a beater car? I bought a 92 mits mirage with 63k miles in 98 for $3500. I've put on 50k miles in five years. a few have said I got my moneys worth.
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