I'm 22 years old, 6'5" 185lbs. 35" inseam.
The wheels seem close to true, the saddle isn't torn but it's more of a snag in the material. I adjusted the seat according to http://www.coloradocyclist.com/bikefit/
The last time I went in for a new chain, I was told I need a new cassette because of the way the chain wears in the cassette. I'm trying to stay away from spending $2-400 on replacement parts....

For starters checking the hubs/BB and a new chain will do. Fork/wheels come later on. Seat and post are fine for now, that's last on my list.