Now revised, no weight and reduced price. It's actually a pretty interesting Bianchi frame. I've never seen that seat-stay top or fork crown before. Looks like a 70's bike except for the extra bottle bosses on the seat-tube. Maybe added later and repainted?

If he had an accurate scale and could show that the frame/fork weighs 6lbs, I would say $500 might be an ok price if it is an SL tubeset. But I'm a sucker for Bianchi's.