The oil on the swing arm is just from rich jetting and probably old packing in the silencer. Also, keep in mind that just because he SAYS there are low hours, does not necessarily mean he JUST rebuilt it. I find it hard to believe he rebuilt it in 09 and has only put 10 hours on it since... That's three years. Other than that it seems to be in good shape, $1,000 for what I have seen in my area is a pretty good for a price. The ones in CT go for around $1,500 or so. But, usually when people buy a used smoker, they put a new top end in anyways because there is just no way of verifying how many hours are really on it. Top ends are cheap, so it wouldn't hurt to just throw new rings and a piston in it anyways. Good luck with it if you end up buying it