$165 seems a little steep for an unremarkable 10-year-old bike that only cost $300 new. That being said it looks like it's in very good shape, judging by the pictures. I'd say it's definitely worth a look. Take it for a spin, and if everything works well, offer the owner $100 and haggle from there. Personally I love the look of the frame and I think that this bike would be a great basis for a solid commuter.