Nobody's ignoring you, Rob! We got sidetracked in the conversation. You should have started a new thread, maybe!
Anyway, my opinion about the 150F you asked about is biased by my own preferences (as is everyone elses). My first impression is I'm un-impressed by It. I prefer the newer style "flat top" panel, so the hump back panel turns me off. The radio stack is antique by modern standards, although it may be completely functional and rock solid. The GPS is not a plus, as the database card is no longer supported by the maker (that I know of) and is out of date. A moving map display available on any handheld is more useful, and easier to use, I think. I don't like the pull starter. I do like the articulating seats (rare). I don't like the Madras Super Droop wingtips. The paint is only a "3" by the owners admission, and the interior a "5" (I expected better at this price).
Where do you see 317 TSOH in 28 years or overhauled in 1979 (have you already talked to the owner)? How much of that time is recent? 317 hours in the last few years would be much better than 317 hours 28 years ago and then sitting for all these years.
I, too, subscribe to the "if it ain't broke ..." philosphy in certain situations, but only when reliably informed with accurate indicators of condition, such as internal borescope inspections of cylinders and crankcase, oil analyses trends, compression and leakdown checks, etc. There may or may not be risk in a 28 year old low time overhaul, but you can't assume anything is good or bad with this much age, until you look at the indicators! In aviation, It is usually guilty until proven otherwise!
With so little flight time in so many years, this airplane would require a very detailed (and likely expensive) annual inspection by a third party inspector prior to my purchase. A normal annual inspection usually DOES NOT cover all of the areas that can slowly deteriorate over years of inattention. Many assumptions are made about regularly flown airplanes. You can't make the same assumptions when inspecting an airplane that hasn't flown regularly in years, or maybe decades!
Personally, I think $19,900 may be a little high for this airplane, even if the engine time can be verified as fairly recent and performance has proven reliable. I think for the money there are similar or cosmetically better regularly flown airplanes available with proven mid-time engines.
Buy Mike Arman's book! Search the forum, and continue to read and ask questions. Arm yourself with knowledge, and you will find the right plane eventually.
Just my opinion!