A salvage title becomes a "rebuilt" title (or similar) in most states after the car is repaired and inspected. The Feds have been trying to standardize all state's title laws and terminology over the years.
If the work is done well and quality parts are used, there really will no difference in the way the car drives.
I have a "rebuilt" title DTR MM for about a year and half. I was going to part it, but since the frame was not damaged, I fixed it myself using all new Ford OEm parts. I have put 20K miles on it with no problems at all. It is tight and quiet and starts/runs great. I am thinking of selling it for 7K firm since the wife dosen't think we need 5 MM's.
I wouldn't eliminate a salvage or rebuilt vehicle solely on that basis, each one is unique. A lot of insurance companies total a car if it has more than 100K miles or they see discontinued parts (headlights, bumper covers, etc) because of cost overruns if they start a repair. I have a seen a lot of easily repairable MM's go to part out becuase of this. As a sidelight, damaged Marquis are really cheap.