When it looks this pretty, yeah it's worth $125 or so. These are interesting bikes and those racks are great. I don't know if I've ever seen one this clean.
These have a cottered triple, right?
You know the downsides to this bike. The saddle is almost guaranteed to be painful. A replacement crank and BB is a bit of a pain. The bike will ride a lot better with alloy wheels. The FD and shifters are iffy. I can't tell what the RD is but it looks to be a replacment.