I picked it up last night! The guy was very nice, and mentioned that he'd been getting emails from as far afield as Devon.
Can't see any rust or dents!
Frame paintwork should clean up nicely (altho I confess I don't like the shade of red much.. it might get coated later on).
Shifters look better than the ones I paid £25 for.
Brakes and levers look okay, if a bit ugly.
Stem looks fine.
Front mech looks alright (kind've hard to tell).
Crankset missing some chainring bolts, but otherwise fine.
The decals are shot.
Fork paintwork is knackered.
The seatpost's seized (so the stem probably is, too)
The front wheel has a cheap Mach 1 rim.
Modern Alivio rear mech?
Patchy looking weld on the circular plate that's on the seat tube.
It's deffo a project bike. Time to start a thread!