I'm a big fan of the Jensen Healey, I own 2 of them. I think they've very underappreciated, and you can now buy what was once a comparatively expensive car for far less than what it's peers cost.
'74 *should* be a MKII version. These are preferable to the MKI. The early interiors were quite sparse, adn the early 907 motor has a really annoying rope seal on the rear of the block.
Keep in mind that the standard LBC checks are necessary (rust, brakes, etc, etc.)
Specifics to look for on the Jensen Healey:
Rust - Generally only occurs in the floorboards. Other location is underneath the gas tank. Floorboards are easy to replace.
Emissions - All JH's came with some form of emissions. Mainly charcoal cannister vapour cannisters. These (along with the factory air cleaner assembly) tend to dissapear over the years. Only an issue if you have emissions requirements to meet.
Bonnet - The Bonnet support area under the hood tends to get munged up pretty easily. check the area for bad repairs and/or the hood kink. It should be pretty obvious.
Engine - It's an interference engine. Make sure you hear it run or be prepared to rip it apart. Look for oil leaks at the mains, crank seals, cam covers and distributor. All are easily fixable. Check the pulley teeth for wear. The pulleys tend to wear and that may cause the belt to slip. Check for obvious helicoils in the park plug area. You get bonus points if it's equipped with A/C (highly unlikely, and if it is you'll see a boat anchor York compressor). Check the exhaust manifolds. They tend to crack/rust out. 2 piece manifold is facotry. 1 piece manifold is replacement. Also bonus points if the factory belt guard is in place.
Transmission - It should be a 4-speed Chrysler UK unit. Fairly bulletproof, but synchros are very hard to find for it. Check for leaks at the rear seal. Clutch is cable activated (non-haydraulic). Extreme bonus points of an overdrive (very rare). It's possible it may have the getrag 5 speed (a bonus, but top gear is the same as the 4speed).
Interior - All easily replaceable except for the steering column cowl. Check the footwell for brake leaks and the passenger footwell for water from the heater. Carpet kits are inexpensive. Stupid things: the escutcheon ring around the door lock and the rubber around the glovebox are unobtainable. The clocks neve worked, so don't expect it to work. Everything else is pretty simple. If it's got a roll bar then it was added later.
Top - They leak, all LBC tops leak. Check the factory top to see if there's lights in it. They shouldn't have them.
Basically, everything else is straightforward, just like any other LBC. Parts are pretty easily obtainable from Delta Motorsports. There are active Jensen Healey communities (they're just not on here other than a few of us).
Any more questions just holler.
Jody