1988 420se (L?)
 

http://westernmass.craigslist.org/car/218017165.html

what do you think? is this worth the 30 minute drive up there?

HELL YES if yo like the car (I love the colors!) and aren't squeemish about replacing the sway bar, I'd go for that in a heartbeat! Take someone with you to drive it back.
Gilly

From $60,000 new to $600 today, that's almost 100% depreciation
 

Probably no time for a prepurchase inspection:) Even if you had to dump $2000-$3000 to fix it up.

It is the 420SEL, long wheelbase model.

For $600 it would be worth the trouble, as long as it had a good title and could pass emissions and didn't have terminal rust.. If it didn't work out you could probably get at least that much for it by reselling it.

what about the sway bar? how hard are those to work on? how much will it cost?

If it's the front sway bar, it locates the upper support arms instead of an A frame. Might make it undriveable.

Only 131k? Do it.