For a sailboat of that age, $192.30 per foot is reasonable, if not the best deal that you will likely find.

I would take a close look at the ribs and keel, if you can get within view of them and make a critical inspection for any wood rot. Chances are there won't be any, but I recommend that you look for it, considering the price per foot being asked.

The USCG Auxiliary has some great courses concerning the Rules of the Road (and please be smart enough NOT to believe that sailboats have the Right of Way) and on Navigation.

There are other organizations that teach those same classes and more, check them out. (my memory is failing me at this moment). Go to your local bookstores and get a copy of Chapman's or some other comparable book that will teach you the Rules, Navigation, Signals, etc.

Talk to professional seamen about tips on where safe anchorage may be utilized in rivers (below the points) and offshore.