I have just read two books on how Carlos Ghosn "Saved" Nissan in the late 90's. Part of the problem was according to his analysis was "Quality standards that were too high in some instances such that a reduction would not be noticed by the buying public". That might or might not be true, but it remains in general true that the K11 Micra in its earlier guises was at the peak of automotive quality as far as long term reliability, ease of repair and high margin specifications. Nissan was losing approx 15% on them, but making a profit on the K12. Increased efficiency in manufacturing, purchasing, marketing and admin gave a few of the gains. The balance I fear came from the owners of the newer cars.........espcially the ones later in the life-cycle.
It is pretty certain that if a K11 serviced correctly, warmed before giving it a footfull and treated with a little mechanical sympathy, it can be made to last relatively indefinately from a mechanical point of view with some easy repairs. Beyond rear lights leaking, and footwells filling with water via a grommet, headlight sockets, heater speed controls failing, very little goes wrong. The front crossmembers rust, but are a relatively easy repair. So will at times the sills, but a little sump oil applied early enough usually keeps it at bay. The Micra is ideal for first time owners to cut thier teeth. They dont demand much and withstand some quite hamfisted mechanics with aplomb. As such are ideal for the impoverished young bucks who might otherwise send a 106 to the scrapyard or their bank account way into the red.
I have two, neither has had an easy earlier life, yet both have been absolutely fantastic cars demanding so little and giving so much fun. I have driven a hired k12 and whilst it gave 48mpg whilst fully loaded, it lacked in quality in so many areas and the thing was literally falling apart as I drove along. It is an entirely different beast to the k11 which remind me of the many Austin 30/35's and Moggie 100's that still rumble down the road 50 odd years after they were built. There will be K11's and the earlier K10's doing this too, but I don't think the K12 will be doing so in any numbers. They are truely part of the modern throwaway society in a way that was alien to the designers of the earlier cars.
I would buy the very nicest pre-2000 k11 you can afford,spend a few pounds on a little tuning and a generous application of sump oil, then enjoy life on the change! If you do get problems, they will be cheap to repair as the scrappies are full of them. Most will have got there because of accidents or abuse, so any spares will be cheap and unlikely to be worn out. A k12 is a money relative pit waiting to trap an unlucky owner in a way that a K11 never could.
Good luck whichever way you go!
Nigel