New LS1 Owners - Newbie Tech - Good Deal?

Okay, right now I have a 95 m5 Camaro Convert. and I plan on upgrading to a lt1 very soon. My question is my grandpa just bought a 96' Trans Am w/ 100k miles, auto, red, not bad looking, not sure if it has t- tops (he is in another state) he got it for 4 grand and then the fuel pump went out on it and now he wants me to buy it for like 3 grand. Is it worth it? How hard is the fuel pump to replace? What do yall think? I am open to hear anything!
Thanks!

go for it fuel pump is easy to get to, in the fuel tank, just have to drain the gas.

Like black ws6 said the fuel pump is easy. I would buy some thing with a lt1 or ls1 in it before I would do a v6 to v8 conversion. just my .02

gm high tech performance did a lt1 fuel pump install how-to in the november 2005 issue. i'd go for it thats quite a deal.