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Actually I paid $150.
The frame is great, no rust to speak of, body is excellent except one dent on front passenger's door (easy enough to pull with a suction cup).
It runs... idles poorly but it runs. Actually the little nipple just rear of the alternator is wide open, I'm given to understand it needs to be closed. I'll cover that, slap in these new plugs, change the oil, and see how well it runs after that.
It has some new front suspension bits (unsure which yet, at least ball joints).
Brakes are bad. I haven't jacked it up yet to find out how bad. They DO stop the car, just not quickly or well. :(
Interior is disgusting but much of it is salvageable. Just scored a center console in "excellent" shape, 100% intact, for $20 off eBay. Still need to scrounge up a driver's seat ($50-$75 from a place near here, according to their online price thingy) and window. Beyond that it's mostly CLEAN CLEAN CLEAN inside, and disassemble/reassemble on principle.
And clean some more - it was owned by a chain smoker, so getting the cigarette stench out of there will be a challenge. *sigh*
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