What do you think of this 87 Sierra 1500?

[InsouciantSoul]

Been driving a 1987 Chevy Silverado heavy half tonne as my first truck for about a year, crashed it into a tree many months ago and it is time for it to retire.

The few trucks I have looked at sold very quick. Here is one I went to see today and yesterday:

http://vancouver.en.craigslist.ca/pm...704137384.html

Things wrong with it:
-Drivers side front axle U-joint is worn and needs to be replaced
-Fuel gauge doesn't work, he didn't know if it was electrical or a problem in the tank
-Not much rust.. One hole through the panel underneath the door, a few other blemishes
-Paint job is peeling away in spots to reveal the original blue
-Bench has been taken out and replaced with two bucket seets
-Paint is scratching off of interior doors
-Wipers only work on "high"
-When turning the steering wheel all the way in one direction, makes a squeeling noise. (loose belt?)

I am not a mechanic but am mechanically inclined and have learned a bit by working on my Silverado, and wouldn't mind doing some work on this truck to make it my own. I'm not sure if it's really worth restoring as this is a base model without the fully loaded goodies like power windows, a/c, cruise control etc that my silverado has.

He put a brand new 900$ transmission in it over the weekend (showed me the receipt). This truck runs very smooth, however I noticed when switching from park/reverse/drive, it makes quite a big "jolt". No clue what causes that. He is asking 4500$ but I am confident I could get him down to $3500 (canadian)

Worth it or should I twiddle my thumbs and wait for something else to come by? Wasn't many decent 80's chevys I could find.

Here's some links to a few others i was interested in, but they sold too quick, to give an idea of what I'm looking for:
http://vancouver.en.craigslist.ca/rc...670344220.html
http://vancouver.en.craigslist.ca/rd...693125129.html
http://vancouver.en.craigslist.ca/pm...727367075.html
http://vancouver.en.craigslist.ca/pm...706002006.html

Thanks in advance.. Needed another opinion on this..