I received a note from the Big Cheese to read the forum rules. I have done that, and if I understand them properly, I should take this to the classifieds section. If you have an interest, go there and look for bimmer84. the owners email address is there.
Those Blue Stallions have got to be rare as hen's teeth. Other than the one with the trans-am shaker scoop I think I have only seen one other Blue one on this forum in the years I have been here.
From the pictures you posted it doesn't look that bad! Buy it! My father told me when he bought his yellow stallion in 1976, the salesman offered him a blue one.... bought the yellow instead