I think it depends on what you need and want. If you factor in shipping, the components make the price worthwhile. In addition, the parts seem to be fresh — going on what we can see. As mentioned above, snob appeal (bling points) is a factor for some people. If bling were a deciding factor in my ownership, I'd have off-loaded my Reynolds 501 Trek 560 a long time ago. (Later models had 531 triangles).
Apparently, Nishiki made nice frames, and some of them were very nice. On the whole, I would go for this bike. If you had to buy the parts piecemeal, your costs would be X + Y. The X factor can only be decided by you. Many enthusiasts bemoan the inflated prices of vintage components with justification IMHO. In this case, the wheel set you would acquire is a settling factor. If the set is clean undamaged, I'd go for the pull the buy trigger.
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Vitus 979, Simplon 4 Star, Gazelle Champion Mondial, Woodrup Giro, Dawes Atlantis