Okay, so after reading all this, it seems like getting this car at $5k is a pretty good deal since it's what I'm looking for. I think I'll pick it up at the end of the month, take it to the mechanic and have them do about 2k~ of restorative work on it and give it a new paint job. I could probably even drop a new transmission in it (unless it's somehow just perfect still) and stay under what I would expect to ordinarily pay.
Thanks, folks. If I do get this and everything works out I'll take some pictures of me zooming around in it and post 'em here.