Under $300 is a steal for these bikes - I usually see them go for between $600 and $1k in great condition.
Seat is up high because the original owner was way too tall for the bike - it fits me perfectly so the seat is half as tall when I ride it.
I think I got a fair deal - the bike is literally brand new judging by the wear on the frame and the components - I kind of like it with the moustache bars, too

-- they're nice Nitto bars. I'll probably wait a bit before putting the drop bars back on.
Weighs about the same as my early 80's Basso w/ Campy group. I'd say a hair over 20 lbs. I'm going to put some yellow/black Ultremo R clinchers I've got on there and ride it fast this weekend - supposed to be 55 and sunny here!
Also, the 8 speed Dura Ace group is awesome - i love it.