Should I put a new transmission in my 1987 Ford?

I have an '87 Thunderbird LX, 3.8L V6. It's the only car I've ever owned, and I'm pretty attached to it. The has finally started to go. I still drive it, but it struggles to shift and I know the end is near. I only drive about 2,000 miles a year. It's pretty much a station car, and has about 160K on it. The car doesn't have much going for it. It always starts like clockwork, but it runs loud, idles rough, looks like hell, etc. Would you put a new transmission in it? Everyone says I'd be crazy to invest over $1,000 into the old bomb, but since I have a very limited need for a vehicle, i would probably only spend about $1,000 on my next car anyways, and that could have just as many problems. What would you do?