The engine finally called it quits on my '95 with 260k on it. But it been in pretty crappy shape for 50-100k due to badly overheating.
The R380's baulk rings are sorta worn, but it's still fully operational and I've had no issues with it.

For a daily driver it depends on if you have another vehicle or not. If you don't, I probably wouldn't recommend a Land Rover at all. If you do have another vehicle I wouldn't worry about a 175k truck.
If the gearbox does go, a rebuilt R380 is about $650 FOB England.

What would probably steer me away from it, assuming I were looking for another 5-speed, would be the fact is that odds are you're paying a premium at the dealer.