looks like the fork could be slightly bent right around the crown race area. but it's probably fine if there's no weird creaks or anything or it's not all flexy. you can just go to your local used bike parts carrying shop/second hand sports store dealy and find a longer stem for cheap to stretch you out a bit.
get all those little bits off of it (shifters, derailleurs, hangy bits, rear brake at least) adjust the seat to the right height, get your fixed wheel and you're good to go.