Originally Posted by SaladShooter

Condition of bearings and drivetrain. A 10 speed is going to be a nightmare to find modern components for if it needs anything changed out. I'm sure you can find used parts but their quality and age are questionable.

Wheels will require a little more finesse to work with a ten speed also. If you can find one that just needs a good tune up you're alright, but I'd probably keep an eye out, you can find a seven speed bike in similar shape with probably a better frame for the same money if you keep an eye out on the local CL.