Hi guys.
New to Volvos, but not to Swedish steel. (Long time SAAB owner)
Here's my question:
I have the chance to buy a 1992 740 NA wagon with "only" 233,000 miles on the car. Odometer works, so miles are correct. Car is rough, but not shot. All electronics seem to work (windows, locks, mirrors).
1. Engine fires, CEL is on, but idles at 800 rpm. Hit the go pedal, though, and it bogs down. Any ideas?

2. Transmission goes into gear fine, but you have to bring the selector to the 2 instead of the D for it to go into gear. Possible linkage fix?

3. Timing belt cover is off (not great, I know) but the belt itself looks good ie. no cracks or glazing. No details on when it was last changed.

4. New battery, tires, plugs, wires, cap and rotor. All genuine parts.

5. No AC. Compressor is shot.

Is it worth it for $500? I know these cars have a bulletproof bottom end. How about the trannies. Heck, my Saab went 460K before I sent it off after a new purchase. Would you go for it?
If I end up getting this vehicle, plan on reading a lot from me. I love these Swedes.
I need to make a decision quickly, so any comments will be appreciated.

Chuck