When I got out of college in 1999 I almost bought a Neon. My senses got the better of me and I bought a Honda Civic Coupe. Its now six years and 150,000 miles later (I have always had a long commute to work - 90 miles round trip) and the only problem I have had was the muffler had to be replaced. Since I live in the North-East that is more a product of the weather than the manufacturing. I have been diligent with maintenance (oil changes tune-ups, etc) which has no doubt helped. I can guarantee the Neon would not have yielded the same results, not even close.
On the other hand my mom has always bought American (Buicks and then Chevys) and I swear its like they break down on a monthly basis. She finally saw the light and just bought a Honda Accord.
Based on my experiences I would never buy American, Honda all the way. Or at least until I can afford a BMW.
