I remember when those came out. It was about 2004 and as luck would have, I was ready for my second bike as the 'ole Murray was put out to pasture. I looked at them, thought about it, but man were those a PAIN to ride! Big, bulky, heavy bicycles and they are only suitable for smooth and slow street cruising. I wanted to go fast! So we setteled for a Micargi Hero on the internet.
Personally, I'd run away from the first one. Its rusty and its be stripped of it's parts. The scrapyard I go to usually has a couple stripped out and rusty Sting-Ray choppers. I would go for the second bike but talk him down. I know these bikes were hot sellers, but the majority of them were babied and in many cases, left in the box. 40 years from now, there will be plenty of these around in NOS condition.