Rusty, that airplane sounds like it's only worth about $20k. There are MUCH better planes out there with nicer radios, paint, ect.
The only thing I see that it has going for it is that it has a relativly fresh engine. Was it a field overhaul or a factory reman? The King KX 170 B is not a bad radio, but it is not something that would reflect anything on the price. Now if it was a KX 155, then it would be a different story. But at that price it should be PRISTEEN, not have old paint and int.
As far as the landing gear, didn't the 152's have Cleveland wheels and brakes? Maybe they replaced the McCauleys with the Clevelands??
When I searched for my Warrior I looked for two months before I found "the right one". I seen a lot of turds with premium prices. My criteria was engine time (had to be midtime or less), airframe time (I didn't want no million hr trainers), avionics (I laxed here, I put $1500 into my panel as soon as I bought the plane. I talked the guy down a bit so I look as if I broke even), paint and interior, and of course...logs and maintenence history.
If you look at a few turds, dont give up hope...you'll find a nice one!