In my experience they either fail totally (no spark) or intermittently.
The intermittent failures are generally loss of power at top end due to loss of spark advance, or intermittent misfiring. They'll run, but they'll run like crap or run fine for a period of time, then shut down, only to restart a few minutes later. This can be difficult to diagnose, generally resulting in at least two carb cleanings/rebuildings, several trips in here to ask questions and shop for easy answers before biting the bullet and actually looking for the problem step-by-step, and you being really frustrated and hating myself and others for not telling you what you wanted to hear
If and when your '87 begins to display these symptoms do yourself a favor and axe me about my timing light, which will save you from all of the above.
Meanwhile, ride the snot out of it, maintain it and quit waiting for the other shoe to fall.
We have a few really smart folks in here working on alternatives, and I have little doubt they'll come up with alternatives shortly.