Found a little bit of info for this bike on the web but didn't find much as far as value goes. It's a Red Kuwahara Carrera UL with Tange Infinity (CroMo double butted) tubing and I'm not sure on the components but I imagine they're similar to this guy's (
http://www.bikeforums.net/showthread.php?t=76238): Dia-Compe brakes, Suntour LePree derailleurs, Sugino VT crank.
I don't have any pictures and don't think I can get any (Guy doesn't have a digi cam) but lets just assume it's in average shape for a bike this old. He's looking for $150 but I'm pretty sure he'll at least go down to $125. Is it worth taking a look at?
Edit: Just for the sake of trying to get an estimate this is one in pristine condition:
