Look, if the bike is in decent shape another thing to consider, you can't find a new commuter bike for $200 unless you go to Walmart. If you decide the Traveler is in good shape and you can get a better deal always know that if some point down the road you decide to sell you can always get at least what you paid for it...try doing that with the Walmart bike!!
Check the gears front and rear for wear, if the teeth are squared and not pointy or bent or broken then the bike probably has low miles on it. Also ride it with no hands (be real careful you don't crash!), riding with no hands will tell you if the bike tracks straight or not which could indicate a bent frame or stays or fork. Make sure it fits, the top tube should be about 1/2th of an inch to 2 inches max from your crotch, but you should not be smashing your balls to death to straddle it with your feet flat on the ground. Seat and handlebar adjustments can always be made later, frame top tube height cannot.
After the deal is made, assuming you buy it, ask the seller for any spare parts or catalogs or anything else he might have related to that bike.