AH, I saw that deal too, I'm constantly trolling craigslist for tanks, I thought i saw this one for 100 bucks, maybe i was mistaken.
I did pull a good 35 gallon off there for 30 bucks with a filter and other random accessories. Cleaned it up and I'm planning on setting it up tomorrow.
This tank crossed my mind, but it really does look like more trouble than it's worth, but as you said, cheap deals are few and far between around here. It's a tough call, but i think if I had the room, I'd get it and put the work into it.