Should I buy a Mercedes?

HI there,

I'm not really much of a car person, and
I'm new to this website. I'm about to return
to the world of car ownership after a 12-
year stint in NYC where cars are
superfluous. I'm looking at a 2004 ML500
with 174K miles on it for $3500. It has been
meticulously kept, and it is in wonderful
condition (though there is a minor leaky
gasket where the power steering
connects). I've never owned an MB before,
and I'm not in a financial situation where I
can buy a car for "fun." That said, this car
is comfortably within our price range.

I'm most concerned about price to own
issues. I've heard that these cars are safe
(it is for my wife and daughter) and that
they last a long time. Will this car pay me
back in longevity for what I have to put into
it for upkeep, premium gas, etc? The other
options in the area and price range seem
to be either late-90s to early-2000s
American SUVs with ~170K miles or Asian
SUVs (about the same age) with ~225K
miles.

Thoughts? Is it worth it? Do I not deserve
an MB (LOL)?