Well, we went and took a good look at it. here is the update for those of you eagerly waiting.
Been garaged 100% of its life so it has surprisingly little rust. He has only had it for a few months. Unfortunately, its been in the ditch at least once. Its passenger side sub frame has been heavily impacted by what appears to be a snow/ice bank. Might be fixable, but will take a bit of work. The body was slightly tweaked in that area as well, but thats an easy fix.
The body itself was pretty straight, with a sunroof that looked decent. Pretty sure it was professionally installed as it looks like a good fit inside and out.
The engine and transmission from this car are the real horrors. It is indeed a olds 350 with a 3 speed auto installed. Even has a custom made drive shaft for it. Block casting number 5549643A, i could not find alot of info on that engine.
The car has sat garaged for 14 years. The engine started right up and even broke the tires loose at 45 Mph.
After driving this hurting car i am very much looking forward to getting mine on the road.... even untouched for 14 years its still a blast to drive.
The engine and tranny where the deal killers here (none pantiac). The rest of the car is in overall not bad shape and is fixable within a reasonable amount of time.