whats this "340 car" worth?
The clean cars out there for fair prices are still hard to find. I saw an original '73 340 Duster (H code) on craig's list recently. Looked like original paint (light green), very very straight, body looked very original, rally wheels, seller claimed strong running engine with after market cam and higher compression, asking $4,500. Ad was gone in a week. I am sure someone jumped right on that and snapped it up.
If you want a good car you will need cash and a tailer on hand and be willing to jump on it when the right deal comes along. If you aren't fast enough some one else will be. As bad as the economy is there are a lot of people sitting on the side lines waiting to jump on a bargain. And those people are well prepared and ready to move quickly.
As far as that guy not returning your calls etc move on. That car sounds like it was band aided and slapped together to be flipped. You can pretty much be sure every corner that could be cut was cut.