Blue Order

That's a good price for that bike. It's a Valite frame, but I'm not sure if it's double, triple, or quad butted. The tubing sticker will tell you. Anyway, it looks like it's in great condition. Shipping makes it more expensive, but it's still coming out at a fair price for the bike. Congratulations!

Another two books worth reading if you want to know some of the differences between components, and some of the development history, both by Frank Berto:

Bicycling Magazine's Complete Guide to Upgrading Your Bike

The Dancing Chain