I just bought a 1986 650 Savage.  Has 10k miles on it, missing a mirror,  battery cover, throttle end-cap, has a bent peg, and needs new tires very soon.  Other than that, the bike looks in great shape.  Not very clean, but nothing a little elbow-grease won't fix.

It has been laid down before, but I don't mind as it's my first bike.  Maybe it'll soften the blow of me laying it down later! =)

Did I get a good deal at $800?

Runs pretty good, even though I only took it around his sub-division.  Seems solid, shifts easily, all lights & signals are working properly.  Doesn't shake or shimmy at around 25 mph, etc..etc..

If it starts and runs good at this point, even though you have not had it out on the road, I would say you did pretty good.  If it works well on the road as well, then you did very well indeed.

Sounds similiar to my bike when it was bought by the previous owner.  I own an 87 and i acquired it from my boss.  He told me he saw it sitting in a fuys yard year after year and  finally bought it from the guy for 750$  When he got it it needed tires, mirror, missing batt cover and left side cover, seat (although the stock one would have worked, but was in tough shape) muffler and had a bent peg as well.

I painted the resteraunt for my boss and he traded me the bike without having done any work on it other than cleaning out the gas tank.  I did about 250-400 worth in labor painting the building, but ate about 100 in the process which he supplied free while i painted   (gotta love resteraunts)

So i would say if you got it for that price running decent then you are in good shape.  Mine didn't even run when my boss bought it or gave it to me.  Carb cleaning was the issue, but my new one is on the way anyway!