Is it worth it?
Hi! First I'd agree with the others about the motor...but we have a saying in our store we own (we sell guitars sometimes real high end ones), if you want it bad, you get it bad. Sometimes it's perceived value. If it was your first car, then by all means deal with the guy on the price, but that sentimental value is worth more sometimes than anything! A woman's point of view of course.
But, with the motor out, how bad is it? Has there been any modifications? Find out about the motor and the car's condition ie rust, etc. I'd say that if no major work to the motor needs to be done, I'd offer like everyone else, 12-15k. A paint job would almost bring it back up to his asking price. Use that as a bartering tool. That's the salesperson in me talking...