Hi guys - first post so excuse the stupid questions!
I have fancied a Mk1 for years and years and last night went for a test drive in one

It is a 1983 'A' 1.8 Campaign model in that nice dark blue (name?) running on P-slots with about 150k on it.
Now, as first drives go it wasn't all that good - we had a slight breakdown half way when the clutch cable popped out!

So, my questions for you guys and girls are basically surrounding how much I should pay for it - or even should I walk away from it!?
Things I noticed in the dark last night;
- Circle of rust about 1 1/2" at the bottom of the windscreen, patch's on each sill, behind the GTi badge on the rear
- Needs a new bonnet
- Needs a new rear bumper
- Brakes were shocking - apparently a Mk1 feature though!
- No dash lights
- 4 bald Toyo R888's
- P-slots, straight but need refurbing
- Was Cat-D'd in 2002
- Engine sounded fairly gruff but started fine from cold, didn't appear to loose oil round the head and pulled ok-ish
- Drivers seat worn and small rip in headling
- clutch was very low, then cable popped out and after we fixed that was very high!
- has a bit of tax and mot
- gearbox was like stirring porridge but worked ok - tired linkages?
- rumbling whilst under 30 / slowing down - bearings..?
- standard springs with kn(?) adjustable shocks
So - with that little list in mind as well as the fact I like my cars original and pretty perfect what sort of area should I be in as the colour, spec and locality are good for me?
Also - what should I be looking for on a campaign over a standard car?
Also II - Any areas, common problems I need to look for?
Many, many thanks for reading my exceeding long first post and even bigger thanks if you reply! - Cheers