31lbs is fairly heavy, by modern standards. The wheels aren't anything great. Probably just a set of unsealed 48s from Dan's Comp. I bought a set of 36s from them 10 years ago, and they have similar looking hubs. Not that impressed with the one piece cranks, either. If the frame's good, it might be worth it, just know that you'll probably be wanting to upgrade at least the cranks, before long.