You guys should probably drop this line of talk. Just focus on the drum in question and move on. It's definitely much more fun.
It's a pretty cool old snare and I for one would pay 50-100 for it. It would clean up ok and sound pretty sweet. I agree with LD in that it is in rough shape. But, I don't mind the sandpaper look of the finish and would enjoy the sounds for sure. Are you going to pick it up? Have you decided yet?