good deal?

I'm considering purchasing this bike to be my first fixed gear bike. However, I'm weary of it since it is a bit old (from the 1970s-1980s). The seller also said it was from Montgomery Ward department store. He wants $130 for it.
Please let me know what you guys think!

http://i48.tinypic.com/2q9xh7q.jpg

http://i46.tinypic.com/1zqxbuo.jpg

http://i47.tinypic.com/vn2yvn.jpg

http://i46.tinypic.com/2d2acyq.jpg

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