I kept thinking about this XR7 while I was at dinner with friends tonight. The picture with that building in the background was familiar to me somehow... I just couldn't remember where it was - until tonight that is.
So... I went by there on my way home to see if I guessed right and sure enough, there was the XR7! It was after midnight so I didn't want to knock on any doors, but I DID make a quick once-around the car.
Basically, the rockers are rotted out but they sort of fixed the outside of them with what felt like fiberglass. The inner floor members of the rocker panel assemblies were completely gone where I reached under the car. Both rear fender lips have rot, and the paint is all bubbled up at least 12" long on both sides. Also, the front clip looked like it was sagging, but I don't know the Cougars all that well.
When you consider it doesn't run (and right away we're thinking head gaskets here), I can't see this worth the money their asking. And no, I didn't get the mileage... the tint was too dark to see the odometer.