If everything works, you got a good deal. Even so, the batteries are probably suspect, and you may need to replace them, both transmitter and receiver. Fully charge them and see how well/long they hold a charge. If they retain 80% of the rated capacity, they are still usable. That is a very old plane, do inspect it carefully for any brittle or broken parts in the plastic that may need to be repaired/reinforced. It is a good plane to learn on.

You have definately stepped "up" from the air hog!

I will add my voice to the others: find a club and get some instruction to flying! Enjoy.