Last year I bought a 750 with a steel interstate tank. The bike was in good original condition, cosmetic and mechanical. It would start and run, but not well enough to go anywhere other than short rides to make up a list of things to do. It had been sitting 20 years since last registered. Over the winter I tore it down far enough to change out the layshaft bearing in the gear box, replace the isolastics, pulled the swing arm apart, bearing in the wheels and new seals everywhere (all the old seals were hard as rocks). I rebuilt the brakes (to stock) and put in a Tri Spark ignition. I spent perhaps a thousand dollars on parts and tires (I got off cheap really since I really didn't have to buy any parts I think of as "durables").
I was really glad to have a bike that didn't need anything more major than taking it apart and putting it back together as I had been away from Nortons for a long time. All of my problems where more associated with learning how to work on the bike than how to fix it. This is a huge thing to consider in my opinion, depending of course upon your own skill and experience. Check out Swooshdave's rebuild thread. He litterally started with boxes of parts...not everyone is going to get a bike out of that kind of experience.
With all of that said, I paid 5800 bucks for mine. I specifically wanted a steel Interstate tank and waited until I found one. I wanted a complete bike, so waited until I found that too. I don't have a clue if the price was right. I am not unhappy with the result. I spent a winter learning and wrenching, and have ridden nearly every day this summer.
To summarize this rather lengthy post about almost nothing: Don't assume that you won't tear down a complete and running bike and go back through it. Don't assume that because it is cheap and runs that you will be out tearing up the roads soon. If the bike isn't complete, there is no telling how much personal frustration you might encounter unless you have the experience to figure it out. Of course the people in this forum are pretty amazingly clever at helping.
Russ
