I would buy it!

The first Mercedes I ever fell in love with was a 116 chassis when I was in high school. It was the same color green as that car and had a green plaid cloth interior. The car got sold before I could come up with the money to buy it.

The 450SE's from what I understand have an engine thats almost as bulletproof as my OM617 in my 300SD. Since this car shares its chassis with the infamous 6.9's you might find some parts to be more expensive than you would expect but probably pretty easy to find replacement parts.