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Good shout! I didn't want to piss on your cornflakes too much but honestly I think you made the right decision. Nothing jumps out at me from the pictures (except a big cut in one of the tyres) but pictures rarely tell you anything of build quality. I might have paid £350ish and taken my chances based on selling the parts if it was a total disaster. Good luck.
aniki
Thanks for giving me a bit more info. I actually spoke to a friend who's a bit of a mechanic and decided to cancel the order yesterday. This isn't ideal on eBay but it just looked a bit dodgy and I kind of rushed into it thinking it was a bargain...silly really.
I am still on the hunt for a similar bike (without holes drilled into the side of it) if anyone has any!