2040 tubing is low on the food chain, but not the bottom. I don't have any info on the particular model bike, though.
For me, there are too many opportunities with better quality tubing out there, unless you're getting it really cheap. What about the components? My guess is this bike may have steel rims, which would probably kill my interest right there.
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72 Frejus (for sale), Holdsworth Record (for sale), special CNC & Gitane Interclub / 74 Italvega NR (for sale) / c80 French / 82 Raleigh Intl MkII f&f (for sale)/ 83 Trek 620 (for sale)/ 84 Bruce Gordon Chinook (for sale)/ 85 Ron Cooper / 87 Centurion IM MV (for sale) / 03 Casati Dardo / 08 BF IRO / 09 Dogma FPX / 09 Giant TCX0 / 10 Vassago Fisticuff