I'd trust Oddjob if he thinks the price is square on the bike. I think some of the estimates given on that bike are high; I like vintage Treks but I'm not a big fan of Reynolds 501 frame tubing. I think at the $350-$450 (which are some of the numbers that have been thrown around) range you can get a better frame.

Still it's tough finding these bikes ever since Thrifty Bill cornered the market on vintage Trek touring bikes. The supply has just dried up but we all know why.