Called Ron @ GlobalAir yesterday to get some more info. The plane was a trade-in at Indy-Air but is located in Texas. Ron didn't have much information about logs, damage, etc., but will be getting back w/ me sometime today. Hard to tell from the photos, but Ron says there is damage to the gear box and prop. Formers owner says that engine OK, but I would want to check that out VERY carefully.
The conversion appears to be an ACT conversion w/ the re-arched flat gear legs. Having just gone through a gear box rebuild on my 152 TD, a few words of advice to someone looking to repair:
Not knowing much about aircraft repair, I had the gearbox rebuilt by an AI who specializes in Cessna airframes. The work is first-rate -and expensive. I had some additional STC's, an annual, and the rigging adjusted. The total cost came out to a little over $11,000. Randy, the AI, wouldn't have touched the project without the STC'd plans for my plane, so make SURE the STC'd drawings are included in the logs. Otherwise it will be an expensive, time-consuming, and frustrating effort to replace the drawings.
Any issues with the engine after a prop strike aside; a new Sensinich prop w/ spinner assembly will probably run somewhere in the range of 3000.00 - 3200.00 (re: Wag-Aero)
If the engine needs to be torn down, I would probably consider going to the Sparrowhawk conversion. A little less hp than the 0-320, but a LOT less money - and headache. Just my two cents.
So, given the engine is OK and barring any other damage...
18 Grand for a TD Aerobat sounds like a pretty good deal, especially for those who know how to do the work themselves.
Would love to see this in a club members hands!

Carl?
Chuck?