As for the price? I just checked Temecula, CA CL listings (waiting for a call anyway). Looks like Inland Empire listings. Between 175 and 300 you sure don't see anything near what you posted here. Compared to your other local listings it is a nice bike.

Send an email or call and say that you like the bike. If emailing , ask for a telephone number. Talk to the seller and stress that you like the look of the bike and that if you buy you want it to ride it. Often people who have nice bikes want to know they will be ridden. Say that the only thing scaring you is the traces of rust and that if you buy and the rust warrants it, the cost of a repaint will be prohibitive. Ask if the seller will reconsider the price. If he says no, make a choice, do you want it or not? If it's just listed seller will more probably decline than if it's been listed for awhile. If it doesn't catch your eye you can walk or make a lower offer. At least a phone call will give you an idea of how the seller will react to a lower number.