GT's are bullet prove,the only negative about them is they are a tad bid heavier than other top brands, so unless your a weight weinee, who cares. If its in decent shape, offer 100 bucks for it. Even if you have to dump another 100 into it to replace some parts or tune up. It will be 1000 times nicer than anything you can buy at Wally World. I myself ride Gary Fishers, but I have been thinking about picking up a late 90s or early 2000 GT myself just to have as a side toy to beat for a couple months now. Just don't have the room for any more bikes at the moment.
Just looked at it again, "steel frame, sweet!!!" Steel is real, I am in process of building up a 1996 Gary Fisher steel frame Hoo Koo E Koo. Now I wish I would have waited out for a old school GT steel frame. Oh well, that will be the next project.