If you're getting the puppy for free, bear in mind that you can get an exchange-replacement analog board (monitor HT and AC etc) for about $100. So it'd be cool to have a functioning original Bondi-Blue for $100. Of course, if you replace the analog board and the thing's still a dumb turd you'ld have good reason to be bummed!!!
I'd go easy of the mutilation as the original Rev A-B machines are going to be design icons in a few years. Hell, they may be worth more in five years than they are now. Remember the ridiculous money 20th Anniversary Macs were changing hands for on eBay!!!!