I've got an 87 Camry that has served me well.
We bought it in 2002 and we suspect it had been abused by a previous owner - the engine was beat to he*l but we dropped in a replacement.

Well, it's now 2007 and it has other issues - some kind of high idle problem, the transmission is nearly dead (yes, this is confirmed), timing is off, slow oil leak, some kind of evap sensor is shot.

Some of the seats are ripped and it needs a new paint job as well.

I'm just a poor college student, not someone who abuses his car - I'd fix this stuff, I just don't have the money, or skills (for some of it) to.

Is it time to put this car out to pasture, especially with the bad transmission? For the money I'd end up pounding into it, I could get another car.

Is this junkyard material? No one would actually buy a car like this, would they? Even for a few hundred bucks?

(the car DOES still drive, but it is estimated the transmission will conk out pretty soon)
To clarify: This is a 1987 Camry...NOT a 2002 Camry.

Anything that runs and drives is worth a few hundred bucks. Sell it and get something newer(Toyota).

Unless you know someone who's good in the business you're better off getting rid of it because to fix it all you're looking at a good chunk of money, and you'd probably be able to get a better car for less money. I'm sure someone will buy it who is good with cars but they won't pay much.

Personal biased opinion. '97 Saturn SL2. I'm in a similar situation to you, i bought mine for 1000 and i've put about 400 into it the passed 2 years. (and 100 of that was my own fault for cracking the new radiator while fixing the old one ><) Its been a great car. Neon and escorts are nice and cheap too, but it just depends on what you like and what you can find for a good price.

Best of luck