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@M_V
2 brakes = lockring not really necessary as you wont be skid stopping or resistance braking.
Fatbloke, what you should have done is contacted the seller and said that you felt the bike was unsafe and asked for a partial refund to pay for work to be done to make it safe and said that upon receipt of said partial refund you would leave positive feedback.
Seller would have probably refunded £20 or so to pay for a weld job etc and you would have had even more of a bargain.
I did this with wheels i bought that were described as "negligible wear" but when they arrived the braking surface turned out to be pretty worn.
You also have to remember that a bicycle is a complex item and that in the case of Ebay while one mans junk can be another mans treasure the same is also true.
As for "sabotaging" this guys listings, i have emailed him with a link to this thread and advised him to cancel any bids from you so i wouldn't goto the bother.