Benji,
It all depends on how much you'll have to put into it. If it needs flavorizers, burners and new grates, then no, it isn't worth it. IF the burners and grates are solid and just need to be cleaned up, and all you have to replace is the flavorizer bars, then yes. If flavorizers are in good shape, then yes yes yes.
Also, check the cabinet and frame very carefully for rust. If you find some and it's only surface rust, that's fine. You can sand it down and hit it with some paint. If the rust is eating into the frame/cabinet and the metal is flaking away, that's more problematic.
In the end, this grill sold for about $400 and the new version is the same price. I wouldn't want to get into it for any more than $150ish all said and done, especially as you can usually find other deals out there.
