When I first joined the forum after buying my '91 DeVille four years ago, there was a member who said the 4.9 engine had the fewest warranty claims of any Cadillac engine. I don't know if that's true, but my car has 257,500 miles on it, and the 4.9 has been very dependable. I bought it with 200,000 miles on it, and the only things I've had to do with the engine are a tune up when I bought it and replacing some ignition components, EGR valve and the fuel injectors. As far as I know, the engine has never been rebuilt (I had the tranny rebuilt at 216,000 miles). I usually add a quart of oil in between oil changes (at around 4,000 miles with Valvoline MaxLife), but part of that is due to a small leak.
And while it doesn't have the power of the Northstar, it still runs strong, as this back-to-back 0-60 run with my '01 Seville and the DeVille show: