Nice car! I'd love to pick up a 745t or 945t with such low miles. To answer your questions:
1. The B230FT is not an interference engine so there's no reason to worry about bent valves etc. if the timing belt breaks.
2. Most likely it's the hoses and not the connections. On turbos there are two coolant hoses that lead to and from the oil cooler where the oil filter attaches. These two hoses get exposed to a lot of dripped oil especially during oil filter changes and are subject to deteriorating. I had mine leaking coolant around the hose clamps. If you don't know if it was done, I suggest replacing the two hoses and clamps. The procedure is described in the 700/900 faq.
Good luck,
Mike
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