Its a clean unfiddled with example which is nice. Needs a little work to get the best from it but nout major.
As its got 11k on the clock, check to see if its had the 10K service, this costs in excess of £1K if done correctly (major strip down, bearing change and tune etc) and so will need doing and is a haggling point/bargaining chip, although at the current price its still cheap.
Take the reflectors off, fit a sprint tensioner, fit a grease nipple mod and chat to Albert for a pipe and that will be a real nice motor.
For the money though there is a nice 2001 X1 also on there -
http://www.ebay.co.uk/itm/BUELL-X1-1200 ... 232940040bMy money would be on that