One more thing. Do some research on the stem included with the bike. For some reason, in the back of my head, I seem to remember a problem and subsequent safety recall on these.

And as far as the worth of the bike - if you intend on commuting or utility biking, a new $1,000 bike from bikesdirect.com will be lighter, stronger, more corrosion resistent and offer better shifting and braking. But if you have some attachment to vintage Italian steel, then the value is up to you.