I see no value in this pistol as a shooter. You can buy a lot of .22 pistols for a lot less money that will shoot a lot better. I would pass (way pass) on this pistol, as apparently a lot of people have. The rust must have been pretty bad since the buffing was energetic, to say the least.
It's a buyers market these days. I recently bought one in beautiful condition for just a couple hundred more. While Gene is correct that you can buy .22s cheaper, I wouldn't trade my PP series .22s for any of them. They are GREAT shooters.
I posted one here that I saw at a show, great shape but funky grips. It may be the market is just down, but the one from Gunbroker had definitely been futzed with.
Make a great trail gun with a hardchrome job.