That's not a horrible deal depending on where you are at. In my area that table is worth $350-$400. The main things you need to look for are water damage to the cabinet or play area, blown out goals, and rusted or severely pitted rods. The first 2 can't really be repaired and the last one would cost you more money than the table is worth. Assuming those issues don't exist, you should give it a nice cleaning with a mild solvent, lube the rods, and you'll be good to go. Buy some new balls while you're at it.