Mustang Question

[RussMS]

Hey Guys:

I have an opportunity to buy a 1969 Mustang Convertible.

Specs that I know of:
351 Cleveland/Holley 4 barrel
Stock Suspension (that will have to change)
Vintage Air System
Electric Fan conversion
Front Disc Brakes/Rear Drums
All sheet metal is above average to great
New Modern Stereo
Paint is 4-5 year old but in good condition for a driver
Manual top

I personally know the guy selling it very well and I trust him. Since up to this point I have focused my search on Camaros, I am somewhat limited on what this is worth. We are sorta of talking in the $12,000 range, but I think I can possibly get him down to $11,000.

What do you mustang enthusiasts think . . Worth it? Any advice would be appreciated.