Thanks for your opinions everyone - I appreciate it. The seller won't come down lower than $12K on the car, which I feel is way too high considering the major mechanical problems that need to be addressed ASAP. He seems to think it could fetch over $20K if it was fully restored - I think he's deluded after the time I've spent watching the market, but hey, it's his choice. It's been on Craigslist nearly everyday since mid-December and no takers yet:
