T-Mar: Thanks for the component and dating info. That component spec seem a little odd or low end for a Master but as long as it works well I'm happy. Figured it would originally have come with higher end Campy or Shimano stuff. I was expecting the bike to be mid 80s so maybe the suntour stuff replaced worn original equipment?
dANDb: Supposedly the paint looks decent with nominal wear. The red is a decent shade which is a relief as the original photos made the red look like very faded 80's pink.
TBart: The seller claimed he had an offer for 180euros for the frame. When my dad picked it up the seller said another buyer offered to beat whatever my dad offered. Dad was able to remind the guy he had given his word over the phone so we got it for 200euros which works out to about US$260. Plus dinner at a decent restaurant for the folks as a thank you. Still a bargain in my eyes.