First, what on the previous bike "failed" you?

As for the Le Tour, that is a pretty good deal if the bike is in good shape. The bars and levers have been changed (the Le Tours came with drop bars and suicide levers) but everything else looks pretty stock. It most likely has its original steel wheels which make wet-weather braking less than stellar. The Le Tours are heavy but make pretty much bullet-proof commuters. I had a '77 as a commuter for a while and it did the job very well.

Main things to check are: bearings (hubs, bottom bracket and headset) to see that they are smooth; wheels are true; no obvious signs of being in a crash; no severe rust; tire condition; brake pad condition (not hard); and how it fits and rides. As for size, I'm guessing it is a 23" so would be about right for 5' 10" to a bit over 6' (I'm 6' and had the 25" was a bit on the large size for me but wasn't a problem).

Good luck.