i dunno, i took mine for a spin with 700s and the frame was very stretched out... it was really sketchy. i wouldn't ride it around.
also, he has no clue who did the modifications... could be very unsafe. at the very least i would have it blasted and checked out by someone who knows what to look for, before powdercoating.
just seems sketchy to me... dude claimed to be an olympian, and claimed to be selling a track bike; he's obviously full of ****.
and if it's a modded karakoram, i believe that's a pretty low end model, ie sold at costco.
Way cheaper than a San Jose or a Rob Roy, and it's cooler looking than both of those too.
2 bikes that are designed to be ridden on 700s, it's irrelevant.