Pre-purchase Opinions Sought: 1988 300 SEL

[rbellamy1]

Hi all - thanks in advance for your opinions. Here's the situation:

Year: 1988
Model: 300 SEL
Miles: 92000
Exterior: Good-Excellent, light blue
Interior: Good
Mechanical:
- Flex disks cracked ($360 quote to replace)
- Needs new belt ($150)
- A/C not working ($70 to diagnose... $100-$1000 to repair)
- Misc. minor things ($225)

Seller asking $5500. I might be able to negotiate down a little. I'm willing to absorb misc. things and most if not all cost on flex disks. A/C is a big variable, but given low mileage and otherwise clean inspection, I'm still seriously considering purchase. I've never owned a Mercedes - have just always wanted to, so seemed prudent to run by what appears to be the best knowledge source on the subject - you all. Blue Book suggests $6500 range if no major issues, so it seems to be in the right range. Any thoughts on this make, year, model, mileage, etc.?