I'm in a better mood today so I'll try and remember what I was saying yesterday!
It looks a really nice bike does that, and with that mileage thoroughly worth the money if you ask me. I'd reckon no more than a couple of hours work would probably result in a potentially show winning bike.
Just a couple of things though, 1-is there supposed to be a tool kit or something in the Right side panel? and 2 - I can't quite tell, but it looks like it's got a small tear in the seat, probably just muck though. Either way it's going to make someone, somewhere a very happy bunny!