Just some thoughts... no knowledge of the brand:

(I suspect that this is the bike in question: http://seattle.craigslist.org/see/bik/1490677709.html )

You are getting a partial super record group + a reynolds 531 frame as a complete functional bike.

Hard to tell in that market of yours...

this will give you an idea for how much a decent super record group retails : http://www.bikingthings.com/vicasuregrse.html