Cool story, even if your old Chevelle isn't something worth buying back, it's nice to know what happened to it since you've seen it last, and in this case at least you get the peace of mind knowing that it's still intact as a complete running car. Keep in touch with the seller...it's probably a car that hasn't gotten much interest at a dealership and perhaps you could negotiate a more reasonable price after he sits on it a little longer.
It sounds like the car might have enough sentimental value to you to justify the cost of a proper restoration. Doesn't sound like anyone else is gonna rescue her...so it's likely save it yourself now that you finally know where it is, or forget about it forever.
I know that last part is the toughest...
