look closely for cracks. That is standard operating procedure for ALL aluminum frames and forks. Look closest at the chainstay/BB junction and the seatstay/seat tube junction and at the chainstay bridge/seatstay bridge. Also look at the down tube by the head tube. Cannondales are known for selling better than average frames with lesser than average parts at any particular price point. Trek on the other hand are known to sell lesser quality frames with better parts for a given price point. Top of the line is top of the line in both cases.
Not sure what your intended use of the bike is, but for casual riding, it would be great, but for serious offroad riding, my opinion would be to shy away from aluminum frame and forks that are more than 10-15 yrs old. If I was looking for a cool older MTB, I would pay $100 for that bike. The frame looks kinda small like a 15" frame. Average is 16.5-17"