Any thoughts on an older Serotta road bike?

I've found a 1991 Serotta Colorado II. Great bike when it was new, fairly low miles, not sure yet if it fits well. He is asking $700, which seems a little high. I'm thinking closer to $450-500 would be fair given the age and condition. It has Shimano Dura-Ace components and slightly newer STI shifters. Frame is pretty, but very early 90's - orange fade to hot pink. Which is actually kind of cool.