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Alaskan- First, what do you want the tractor for? If for work, Ns are good for a lot of uses, but have some limitations. Buy a tractor that will do what you want it to. If for the fun of owning one (and they are), then the question becomes one of price, the amount of time & money you have available to fix one, and your patience. If you want instant gratification, this does not sound like your tractor. A siezed engine siezed for a good reason. That it is running now doesn't tell me much. Forget what the meter says. That's a 50+ year old tractor and I guarantee you that isn't an acurate number. Tractors have 2 main components that you must know how to evaluate before making a decision. First, engine. Second hydraulic system. Water is common in both just due to condensation, water getting in around the rubber boot on the shifter, FLOODS no one told you about - buncha stuff. If you get the tractor for $1000, probably a good deal assuming you are in for an overhaul and hyd system rebuild. Beyond that, I can't tell you anything more without more info.
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