Sure the leg will need to be repaired, that's not that big of a deal if the other three attachment points are in good shape. Just to place a value of the cabinet itself, I would want to see it all the way around - art condition, bottom etc.. To value the entire game, I take all things into consideration: playfield, electronics, plastics, translite, displays, etc... One cracking part of the cab, kind of doesn't matter a whole lot because it doesn't require expensive or unobtainium parts. Wood, hardware, glue clamps and touchup. It's just a small weekend project to me. That's the way I look at it.

I would be concerned with the missing cabinet art (painted over?) for price consideration.

That sounds like a reasonable deal. Enjoy!