I dont' see anything that looks terrible on that blade from the pics you posted. If you go the the Aution/Ebay section there is some good advice on what to look for on a blade when you are shopping, the same applies when seeing one in person. Look for rust/pitting on the edge itself. Look for warped/cracked scales (handles), rot on the scales, usually shows up as pitting on the blade, and uneven hone wear. I see none of these...from your pics.

What does the tang say on both sides, BTW?

Goog