I loved the faux rope wrapped steering wheels.
My second Camaro was a 1978 Z-28 that I bought myself as a graduation present. A beautiful red four speed with positrac and sport interior. I miss that car.
This one looks like a true Z. If the engine and tranny are original, it would be worth restoring, but will not be cheap. The second gens are going up in value and the later cars are starting to catch on. I agree that you can find a cleaner car to start with, but if it is a true z, it will be hard to find one at this price.
Good luck!