So I found this bike on craigslist for $350 and I was looking for opinions. I know for a fact that some of the parts arn't that great, but I think the frame is good. I'm looking to upgrade it eventually.

Frame: Panasonic DX-1000 @58cm
Handlebars: Chrome Track Drops
Stem: Chrome Threadless Stem
Fork: OEM
Front Wheel: Weinmann Deep V, 32-hole
Rear wheel: Weinmann Deep V, 32-hole
Tires: Kenda Kontender
Crankset: Shimano
ChainWheel: Origin 8 110/130 46t
Bottom Bracket: OEM
Saddle: Velo Road Saddle
Seatpost: OEM
Pedals: Black MKS
Chain: 1/8"
Cog: 15t

I know the deep v's and cranks aren't too great, but I'm not too sure how everything else looks. I was thinking I would talk him down to $300 and wondering what would be some points to help with this feat.

here's the link to the listing:
http://boston.craigslist.org/gbs/bik/1215841859.html

Thanks