That bike has nice bars, nice wheels, nice rear derailleur. Looks to be in very good condition. In this market (Portland, OR) you'd pay $200-250 for that easily. YMMV depending on local market. It's not going to be light, but it'd be a great rider, I'm sure. If you did get it, I'd get rid of the pie plates, swap the saddle, replace the front derailleur with a decent SunTour, and get rid of the suicide levers. That'd run under $50 I'd guess and would style it up a lot.

Karl