What is it Worth? - Is this 93 t/a worth it?

I've been searching for a 3rd or 4th gen for a while now and came across a 1993 Trans Am in need of some work.

The car has:
196,000 miles on lt1/a4
Cracked windshield and front passenger fender
Needs brakes, rims and tires
Needs muffler and shocks

These are the biggest issues with the vehicle. I know the motor and trans will have to be rebuilt and many other parts need replacing. But the vehicle looks in decent shape and the price is $900 for it. Im fully aware this could potentially become a money pit but maybe with a little TLC it could be a nice cruiser for me.
What do you guys think? Should I give it a shot and is the price fair?

http://desmond.imageshack.us/Himg594/scaled.php?server=594&filename=98568617.jpg&res=landing
http://desmond.imageshack.us/Himg859/scaled.php?server=859&filename=driversfront.jpg&res=landing
http://desmond.imageshack.us/Himg802/scaled.php?server=802&filename=passengerfront.jpg&res=landing
http://desmond.imageshack.us/Himg100/scaled.php?server=100&filename=interiordriversside.jpg&res=landing
http://desmond.imageshack.us/Himg835/scaled.php?server=835&filename=interiorku.jpg&res=landing
http://desmond.imageshack.us/Himg12/scaled.php?server=12&filename=backseatd.jpg&res=landing

I would only pay about 400-500 at most, I would think you could find a nicer roller for a lil extra.. Because that TA has alot of miles and needs alot done .. That's just my opinion ..

That's a parts car IMO. I only tell you from experience. I have dumped a ton of money in cars only to be worth half of what I put in.

Pass...

Thanks for your input guys. The seller emailed me back saying theres also some rust on the wheel wells so that pretty much did it for me I will be passing on it.

In the mean time I found a 94 t/a in great shape but it has 150k on the motor and trans for $3K. So im now thinking about picking this car up this weekend. Im going to do a little research first on lt1s and mileage issues. Any advice on this car would greatly be appreciated!