Yeah, this looks like an 80s model because of the downtube shifters and logos. Bianchi steel is solid, durable and has certainly stood the test of time....depending on the tubeset, should be light enough for most purposes.
Yeah, I'd hop on it if I were in Nashville---I'm in a different market. That would be going for $250 with cheap components where I am. Looks like a 55cm from the photos.
It's most likely a suicide hub, basically a freewheel hub that has been converted into fixed using some sort of welding material. As long as your riding with 2 brakes you should be okay, but skidding and a lot of backwards force probably won't work well. Either way it's a fairly decent deal I suppose, just make sure it is the right size, otherwise it'll be a waste of money.