Thanks for all of the replies! I do appreciate it. I am going to keep on looking around (There's also a 90 or 91 420SEL for $4800 in the neighborhood, but I think the price is a bit high) and maybe inspect the 300SE further, but I really don't want to rush anything; I have all the time in the world. I believe the water pump has a leak, but I can't be sure as to the condition of everything because I just took a quick once over of the car. The car is being sold at a local auto shop; I bring my Blazer and S10 there to be worked on and I haven't had any problems since. The owner seems like a good guy. That being said, though, I will have to find out more about the condition of the engine and if there is any kind of damage from overheating.

Thanks Again,
Nick