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90 200q purchase decision-need collective wisdom of the Q-list!

I checked out the 1990 200q (119k) this weekend.  The guy selling it is a
part time used car dealer on the side.  Has about a half dozen cars at a
time.  He bought this 200 from a local Audi dealer for about $4k.

I was able to contact PO (2nd owner). He had the car from around 61k and
being a nonmechanical type, always had the car dealer serviced.  Good oil
change history <3k.

I also was able to review the maintenance history at the local Audi dealer.

Dealer replaced stuff in the last 10K:

AC blower fan
Knock sensor
LF wheel bearing
Multifunction switch
Drivers window regulator

Stuff it needs:
RR caliper , pads and maybe all the rotors
Hyd. pump may be leaking
LR regulator non-functional
Needs cruise control switch
Timing belt-no record of replacement
Drivers seat heater bad
Car has more rust than my 86 5KS-around left side bumper, rt front  wheel
well, couple of bubbling paint spots(rust). Spent its life in Syracuse, NY.
Auto check (upper window) not working.  4 horizontal orange lines on
screen.  Changed to a weird block pattern while driving.
Bose radio pops loudly when shutting off.

Other stuff:
Bomb is good
Other 3 windows work fine
Power roof works well
Interior, very nice shape
Engine pulls 1.4 bar, idles smoothly.
Original exhaust
Original CV joints-no sign of cracks in boots.
Clutch "feels" OK, but have never had a manual Audi before.
Car vibrates a bit at highway speeds.  I attribute this to the lousy snow
tires on all 4 wheels.

Bottom line-  I figure it would take between $1500 and $2000 to get this
car into the type of condition it deserves to be in.

Price is $4500.

Should I buy or fly?