Seem like a good buy?

[myyamr7]

I'm trying to get an idea if it's worth me purchasing a project truck local, or just go south to try and find a rust free truck?
I've looked at a few already local to me and surprisingly have found some trucks with very little rust. Looking at prices for similar trucks down south, seems the asking prices are double up in this area.

This is one that I went to look at, owner seems firm on the price and there is a lot more rust/rot than he thinks or sees. The truck is solid for this area, but still needs both door bottoms, both front fender bottoms, both rockers, 1 cab/floor support arm, both inner fenders, and there's a rot hole above the heater motor...and of course the hood is rotted in the front. The bed and frame look solid with very little surface rust. It's one of those adds where the pictures make it look better than it really is, but it is all there and everythign works, so it seems like a good truck to start with. Does it seem like an OK buy? And if not, what should I expect to pay

http://worcester.craigslist.org/cto/3385585603.html

Thanks