Believe me, I know he has lost his mind... buy the bike, it's in good shape, I'd buy it... but I ride a 60, and I have too many horses in my stable.
I've seen it in person and can attest that the rear rim probably does NOT need to be replaced only trued and the bearings repacked, the bar tape is in horrible shape, of course, those simple cosmetic flaws aside, the bike is in great mechanical shape and will make a really good commuter or light duty tourer. It was assembled by Atlanta Pro Bikes here locally. 105 crank (39/53), Deore rear derailleur, Ultegra bar ends, Shimano canti brakes, WTB Speed V saddle.
I'm likely to kick his ass, as he doesn't ride with me nearly as much as he used to since he moved to the 'burbs.