Well that is a different story, you going to a Tech school. If you truely like what you see in the car and want to work on it, for $200-$300 you can't go wrong As far as initial quality build, there was none in the mid 70's (my opinion) h.p. was down amongst all the car companies, American quality was down but Japanese cars were comming up about the best quality on the road for the money was a VW Bug.
As far as the
trans goes if it was taken care of it should last if not?, that is a risk you take when you buy a used car. Is there something specific that you know is wrong?
As far as I know these cars had no more quirks than anything else on the road, The Ford / Chevy / Dodge / Plymouth war was still on so that may be where the rumors of specific problems arose?
Again if this is what you want and the price is right go for it, but as with any 30 year old car expect problems and you will put time and money into it for sure.