I have a third gen Pontiac Firebird which is basically the same thing. 3rd gen Camros and Firebirds are good cars. They are tanks in regards to their heavy, but sturdy body. I actually T-boned a Prius in my Firebird, but at a lower speed (15mph) due to slowing down, and my car took minimal damage compared to the side of their car which got utterly ****** up like it was a tin can. My bumper only cracked in one spot. It was the 30 year metal that took a bend, but still under $2000 worth of damage.
I'd say the trickiest thing engine-wise is trying to replace spark plugs if it's got a Chevy Small Block engine. Otherwise, I am not even a mechanics expert and it was easy enough for me to replace my windshield washer pump which had stopped working. The headlamp motors are also easily accessible.
Yes, 3rd gen Camaros are good cars. I can't say it is reliable since it is 30+ years old, but if you want a project car that can also be your primary car, it's a reasonable choice. Although I personally would go with its brother, the Firebird. You don't have to drive a Pontiac, but you'd be a lot cooler if you did.