Newbie buying used for casual use.

Hey guys, I'm not very savvy on bikes and I've been looking for one lately for general use around town and staying fit. I'm already in shape, if that helps. I'm a sucker for vintage-style crap so I'm trying to buy used.

So I'd like some advice on what to look for. Hell, I'll even buy new if you guys think I should, but as a student and all around lazy person, I don't have a very large budget.

Here's an example I found craigslist that I'm looking for some input on. It's an AMF 22.5" 10 speed, not sure how old, exactly. The guy is asking for $80. I'm aware that AMF was essentially a "big box" retailer manufacturer, so the price is a bit iffy, but it caught my eye for whatever reason.

http://i2.photobucket.com/albums/y10/timodiwow/bikescycle/DSCF0002.jpg
http://i2.photobucket.com/albums/y10/timodiwow/bikescycle/DSCF0003.jpg
http://i2.photobucket.com/albums/y10/timodiwow/bikescycle/DSCF0004.jpg
http://i2.photobucket.com/albums/y10/timodiwow/bikescycle/DSCF0005.jpg
http://i2.photobucket.com/albums/y10/timodiwow/bikescycle/DSCF0006.jpg

He says all his bikes have been fully serviced, new tires and tubes.

Would I be better off searching for something else? Should I just see what they've got marked down at bike shops?

Thanks.

EDIT: Oh yeah. I'm around 5'9" and 140 lbs.

 

that is way too much for that bike. I'd offer $20.

If you are on a budget look at a pawn shop, craigslist, community bike shop.

even better trade some time at a community bike shop for a ride.

check your local bike shops for used bikes. these may be more expensive but typically you will get something much better.

 

It may be a great investment because nobody is gonna steal that thing.

But I'm sure better bikes can be found for 80 dollar.
It's sometimes amazing how cheap older bikes can be that once costed a couple of thousand.
However I'm handy enough to put a new chain, sprocket, cassette and cables on. About every part that moves actually. It will set you back another 100 dollar but it will ride virtualy as new. The bike has to be worth it and I doubt if this one is.
If you can't do that yourself then choice is limited and you will have to trust the seller or take it to a bike shop before you buy. Main costs are the drive train. New tires are the easiest to replace.