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Sounds like a good deal to me.
 

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I got my 68 coupe in almost the same condition, except it had the I6 with it but not in the car. Payed $500 for it and ended up getting a dash clock and a complete center console plus a ton of parts. Sounds to me like a good deal but then again I'd have to see it. If the rails are rotted and will need replaced then you have to ask yourself is it worth the trouble for a 6 banger?
 

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Doors alone are worth more than $100 ea. if in good condition,

GO for it!
 
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