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I looked at the pictures, and I don't think it's in that bad a state...
As the owner of a flathood, and several (~6) 240 turbos, I have a place in my heart for these cars. All of my cars have some rust on them. Maybe that's due to some time in Chicago, or maybe it's other factors like leaky windshields, firewall grommets, and sunroofs. but they all have it.
Granted the pictures aren't the greatest, but when you consider everything, it might be a good buy if you want it bad enough. After all, didn't the low-mile flathood on ebay go for ~13k?
As for oomph, I'd be more interested in an 84.5 factory intercooled 242. All 3 of mine are noticeably stronger in the engine category than my intercooled cars that had the kit installed.
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