Seam pretty expensive to me, my 316i may have slightly more more miles (64000) but it has FSH, 1 owner from new and has Air-con. I paid just under Ԛ£400 just over a month ago. Has MOT& Tax till Feb 2005.
Low mileage cars can be good, all the switches and everything feel nice and tight etc etc. I however think the rubber (window surrounds etc etc) will have degradded the same what ever mileage, especially if it hasn't been cleaned very often.