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does the dent really seem that big? im no frame maker, but looking at its massive downtube, there's still plenty of strength in there. id still ride this on road or track. there are some hire bikes in HH in worse condition.
not goin to get into that steel is real debate. anyway, dont want to be a salesman bout it. ill just leave it to you punters.

I hear ya. But the dent is in the top-tube not the down tube... Steel tends to fatigue over time and when it finally fails it is usually in a gradual way. Aluminium fails catastrophically when it goes, at least in my experience. I had an alum' mtb fold in half on me during a race in the 1990's. I will still ride the stuff, but I don't take chances with damaged, cracked or dented alum' products of any sort. On the other hand, I ride a 40-year-old steel track bike with a couple of decent dimples in it that have not gotten any bigger since around 1985. Also, steel can be repaired. Caveat Emptor