Don, I'd like to extend a welcome to the club from a relatively new member--I joined in early March when I started looking into buying a C-152 that my FBO had for sale. I think you'll find that the club is a great place to get very good advice and make some new friends. You can read my saga in this section: I thought I'd found a great bargain on a plane (it seemed too good to be true) and as it turned out it was. Anyway, after my initial disappointment, I've continued to look for other aircraft and in parallel have also learned more about the purchase process and pre-purchase inspections. If you haven't already gotten copies, I highly recommend Mike Arman's book, Owning, Buying, or Flying the Cessna 150/152, and Denny Pollard's book, Handbook of Aeronautical Inspection and Pre-Purchase. They're both loaded with great information about C-150s/152s and things to look for. However, my best learning experience was an invitation by one of the potential sellers to come out to the airport to watch (and even participate) in his conducting an annual on one of the aircraft that he was selling. Although I decided not to buy his plane (because the engine was over TBO), I learned a lot about things to look for. I also recommend using the Club's link to get all the information possible about each particular airplane and to buy the FAA CD that provides the registration history and airworthiness records on each airplane you're looking at. I've now got quite a collection of CDs. The $10 for the information is really a bargain, but, unfortunately, it sometimes takes about 10 days to get the CD. Good luck in your search. I just hope we don't end up in a bidding war for the same plane. :-)
Charlie
Alexandria, VA