What Do You Think Of This Lx?

Been getting the itch for another mustang lately, I go back and forth on getting a newer body style but I always come back to looking at fox bodies. Came across this ad and liked the looks of it. I e-mailed the guy and he supposed to be sending me some underhood pics. Opinions?
http://memphis.craigslist.org/cto/4502075204.html

I seem to be having trouble (at leats locally) finding a stockish car under $5500 which is why I wanted to check this one out. He says it has functional heat/air. When I have asked other people about the A/C on cars they have for sale they say "oh yeah it just needs a charge" which translates to it's busted. Only two things i'm not crazy about are 1. The red interior, but I could deal with it if it is all clean. 2. That red stripe.