Just got done looking at the 40 in this ad
http://phoenix.craigslist.org/cph/cto/3883578560.html
It still has drum brakes on all four corners, wouldn't start, hasn't been registered since April 2010, has bondo (done poorly) everywhere. Knuckles are leaking badly, gear oil seeping out of outer front hubs, rear main seal leak, leak at transfer case or transmission, cobwebs on the rear brakes/tires, some welded on pipe to reinforce the rear bumperettes

. The front windshield frame is constructed from bondo

. I really tried to convince myself it could be brought back to respectable condition, but thankfully the crack wore off just in time and I escaped with all my money

Owner is a nice young kid, but he was a little misleading on the phone. He indicated it drove well just finicky to start sometimes and that it was great fun to drive and 4 wheeled great. He has only owned a little over a year, so the fact that is has never been legal to drive since he owned it, and didn't know the PO makes me think he really couldn't have any idea about its drivability