Asimsa,
I have a 97 corolla with a 7afe. Been running for two years now without any problems. It is a wonderful engine with bucketloads of torque. The engine delivers enough thrust without needing to rev very high so it is a very relaxing engine to drive.
My friend has a 7afe auto in an 86 corolla and it runs just fine on CNG too.
Parts are available easily.
There are two different versions though, one is with coils and no distributor, this one also has a butterfly system in its intake tract, that makes the engine switch from 12 to 16 valve operation after 4000 rpm for full power delivery on the top end. It is a similar system to the TVIS used on some models of the 4age 16 valve engine.
The other 7afe is a regular one with a distributor.
I would recommend this engine having used it for a while now. It will sit straight on the existing mounts of the 2e carby engine that came in this car.
Cheers