Advice needed on buying 1979 320

[espokane]

I found a 1979 320 4-spd 2-door for sale from a private owner, and I'm wondering what I would be in for if I purchased it. Any advice on what to look out for would be greatly appreciated.

The price is $1500 negotiable. The owner seems honest enough. Says he has too many cars and that's why he's selling. I haven't been in it or seen under the hood yet. He seemed to think that it had been converted to carb from FI, but being a 320 (according to badge on trunk lid - guess that could have been modified to match) that seems odd to me. He said it has a Weber carb.

He was going to sell it to a friend of his who did some work on it and then didn't have the money to buy it.

Details:
Uses a little oil, leaks some too.
Needs carb rebuild or replace (or FI kit?)
Repainted orig. color last year, some minor rust (I still need to look at that)
Mallory (sp?) ignition pack
new clutch

I forgot to ask how many miles it has.

I'm not looking for a car to modify or race, just a semi-daily driver for the most part. (I work from home, so it wouldn't be a commuter car, just a second car). I know there are other models that may be more desirable (especially people on this board!) but I'm OK with that. I could go get a 98 Civic or something, but this care has more character. I don't mind some maintenance or even carb replacement, but I don't want it to become a money pit. Are parts expensive?

Thanks in advance,
Eric