Yeah, that is a great deal!
I purchased a Gap a few months ago on e-bay and nabbed it for $402, and I thought I got the deal of a century! The seller, who I had a good relationship with, was definetly disappointed, thinking she was going to get around $800 to $1000 for the bike, which isn't out of line for a nice Gap. These Basso's really seem to run the full gamut of prices. Your deal is probably the best I've seen or heard of as far as cheap goes, and I've seen them run all the way to an incredible (and ridiculous) $3250 for a Campy equipped Gap.
Your Gap looks to be in very nice shape, and you can't go wrong with red! The Mavic gruppo is abit unique to. Mine has the Shimano 600 which I like alot. If it were Campy though, I'm sure it would have brought in the price the seller was looking for. I think your going to like your Basso. They ride very nicely, and I feel pretty darn quick on mine. Somehow it feels quicker than my lighter aluminum Miyata.
Good luck!
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It never gets easier, you just go faster. ~ Greg LeMond