I guess it depends on what your plans are. Underbody doesn't look too bad. You can clean alot of it up as you perform PM and/or upgrade. The body cancers would concern me as body work is a PITA for DIY'ers and expensive in shops. Also consider the condition of other LC's for sale in your area. Are they all in the same condition? Or can you wait for a better conditioned one even though it will cost more.
I would pass but then again I am in california. ;p
I would pass but then again I am in california. ;p