Judging by the color and the black stem, I'll say '91. Like any other steel, True Temper had different grades, but as far as I know it had a good reputation. Per the '91 catalog it's double butted True Temper with chromoly fork, which is a unicrown design. It's equipped with Deore DX, which was an excellent group situation just below XT. I'd say it's a very solid machine, but it will likely appeal more to pragmatic riders than collectors. I think it occupies a sweet spot as far as bargains: doesn't have much demand in the collector's market and cuts out people who want the latest and greatest with integrated shifting and braking. So, I definitely think you should be able to talk him down some, if he's willing to negotiate. I'd start at $250 and work up from there, depending on the condition of everything.
http://www.vintage-trek.com/images/t...rekCatalog.pdf