Thorens TD 125 MK II with TP 16 tonearm - What's it worth?

Hi all, I posted a thread the other day for a used Technics turntable to get some advice on whether or not to purchase it. It didn't work out, which was for the best probably after hearing all the skepticism regarding its condition.

Here is another table I came across that I'm hoping to work out a trade for (read description):
http://raleigh.craigslist.org/ele/5564394607.html

It has upgraded RCA's, a TP16 tonearm (which know nothing about), but needs a new belt and doesn't have a head shell/cartridge. I would just use the Shure M97xE that I purchased a couple weeks ago, but is the belt a big issue?

i love to work on projects like this. Fixing electronics, wood work, random home renovations, etc., and of course music, are what I do for relaxation so restoration isn't a biggy as long as I can do it myself without spending much $$.

Any advice or opinions would be greatly appreciated as always. Thanks so much for taking the time to read!