I love the Taurus! I'm on my second one. 1st was an '89 GL which I owned from 121k to 165k miles, and I got rid of it because it was rear ended by an 82 year old man. 2nd one is an '89 LX, that currently has almost 205k miles. In the GL, the 3.0 averaged 27 mpg (that was a lot of highway miles, but it got over 30 on the freeway). The LX with the 3.8 averages over 22 mpg, but it can get just over 28 on the freeway.
My girlfriend's mom had a '94 Camry - I wasn't impressed by it. My friend has a '97 Accord, which is well built, but lacks the luxuries of the Taurus, like a power height adjustable seat, or a decent headliner. The Taurus also has a better pedal response - it's more linear. In the Camry and Accord, if you gently press the brake pedal, then the brakes come on hard. The gas pedals are the same way, but the Accord was exceptionally terrible - it's gas pedal is so stiff that it's impossible to get it just right. With the Taurus, I have much better control over the brakes and throttle. As for reliability, my Taurus' have been just as good. All high mileage cars need maintenance, and Japanese cars are no exception, but the price of Japanese parts are much more expensive.