I had a 996 C4S a few years ago. Paragon, an independent Porsche specialist, are near to my home and I know the service manager well as his wife is the daughter of a friend of ours. I asked him about the IMS issue and his view is that it's over hyped, he said that he had seen only a handful of cars which had the problem. Even a handful is too much especially for a quality brand, but it reassured me. And I never had a problem with my car.
There is another potential weakness with that engine which is bore scoring, but that is largely thought to be due to a failure to warm up properly, ie not letting it idle for long when cold and not revving it hard till properly warm.