Looking at 68 Valiant 4 Door- Thoughts?

Hi everyone,
I am looking at a 68 Valiant Signet 4 door. It has a 318, 904 and 7.25 rear.
Owner refreshed gaskets about a year ago, replaced a lifter. Now has another lifter which he says is sunk. I am concerned about the lifters issue, and the potential for needing a rebuild? But honestly my knowledge is limited- Also I know the reputation of the 7.25, but would it stop you from buying? The body is pretty straight and rust free only one hole in pass floor and needs lower quarter patch. He is asking just under $3000, I am just looking to clean it up, few minor upgrades and cruise. What are your thoughts?
Thanks

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