I'm looking for a 301 too. I want a black one with a long bed.
The 301 is known as the "big sister" to the featherweight. It weighs a bit more, but is still light enough to take to classes, and has that handle on top that makes it easy to carry. I would probably point out all the problems with the one in the shop, then offer $20. They would probably counter, but you should be able to get it for less than the asking price.