1986 F150 question

A friend of mine has a 1986 F150, in almost immaculate condition, 300 6-cyl, std shift(4spd) 2wd, topper,( some new parts including steering box and ignition module) for sale. He has not advertised it, and I am considering it for a number of reasons. It is a two owner truck, bed is perfect, only a couple of bubbles on paint on fender. Question, what were normal problems with these trucks, and with it being 20 years old and 127K miles, would if be worth 1500 bucks to those of you out there who have dealt with them? I am used to GM vehicles but have worked on some fords such as Explorers. Would a truck like this be a decent dailey driver given it's age?

you can see 17 to18 mpg hiway maybe even 19 out of that truck. the recent ignition module change may reaccure without a good pick-up coil they blow out every 6 to 12months. the intakes like too loosenup and cause drivabilty problems. but in all they are a good machine. drove an '85 260,000mi. sold it cheap the new owner replaced the eng. still see see it on the road from time to time. 127,000 is low miles for an '86 & $1500 is not much money these days for a decent driver.

Thanks for the information. I went to look at the truck(had seen only pics) and I ended up letting my stepdad buy it, as he needed it worse than I did. It was a very nice truck and ran like a new one, so he should be happy with it. Will keep that in mind what you said on the coil and intake. From what I have read on these trucks they are good for a lot of miles.