Thanks guys. The current owner says that the revs are extremely high when driving in "final" gear. He said he wouldn't take it on the interstate. He thinks the car has 3 gears then overdrive so, to his thinking, 4 forward gears. I didn't bother trying to explain the 4 forward gear - no overdrive situation.
I've heard of not shifting to 4th gear in the 722 but no definitive explanation. I need to decide on this car by tomorrow (Thursday) so any other help would be greatly appreciated.
On another note, is a new headgasket at 100K miles a given, or has anyone avoided this repair, either by luck or diligence in some way?