Hi Ted,
I bought one for my wife, a 2005 1.5S about 3 yeras ago. She is still running it now.
Go for the facelift one if you can and you get a safe car (4* NCAP) that is cheap to run and reliable. The interior of the S is not as nice as the SE (a bit plasticy), but they are all well spec'd.
Ours is the base model (S) and has A/C, CD player, remote C/L, elec windows. Good size-wise inside and nice to drive. They handle and ride very well. The engine is a bit noisy at high revs and the speedo under-reads quite a lot, but they are real good value for money. They were £12k new and we bought ours after 18 months for £5k. No idea what it is worth now, but whilst it is so reliable, we will hang on to it.
It is cheap to run and insure too.
The timing chain issue related to the pre-face lift one. There are a lot of post face list cars about. Keep looking 'til you find one with a good history and look after it I would say.
Whilst it is not as nice to sit in and look at as a Focus (or similar) you can't knock it for value for money.
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