personally.. would not buy it for 200 pounds. 200 AUD, yeah maybe, its the right era frame but also a nice big 20" which sometimes are hard to find.
i made the mistake of buying a pair of those judy forks a while back, they are horrid! they leaked oil like like a leaky tap!
as you have pointed out, most of the components are relative tat...i would doubt they woild sell for much if any...