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Replace what is worn out. No need to replace things that are still working. Instead of thinking about the car as a whole, split your attention into the different systems of the car. Tackle the suspension like shocks, ball joints, bushings, etc. The engine can consist of fuel filter, plugs, wires, cap/rotor, timing belt, water pump, oil changes, valve adjustment, etc. I find it easier to keep track of maintenance when you do the entire system at one time. Why just do shocks when you can change all bushings and ball joints so the entire suspension is fresh? It might be more expensive up front but you have the peace of mind knowing that the suspension is taken care of for years to come.
The O2 sensor is an exception. It may not throw a code but they still go bad. Replace it if you have noticed a decrease in efficiency or you suspect it's old (>100,000 miles). Other sensors generally don't wear out. Your fuel injectors can become clogged, but you would notice. A fuel system cleaner is fine. Injectors are pricey, no need to change them out unless you know they are bad.
Miles are just miles. Properly maintained and engine will last a long time. There isn't a magic number. If the compression is still high and even across the cylinders there is no need to rebuild or replace the engine. Just keep changing the oil and replacing worn out components.
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