I think you are wise, patience will pay off. I will put money that the seller will never get 500 for this thing if they clearly state that the frame was stripped.
Another thing to watch for on well priced Pinarellos is the terrible decals. I ended up repainting an Asolo as the residue left after the decals disintegrate is impossible to deal from what I can tell, maybe by a restoration genius it can be done but I could never find any reasonable technique.