Looking forward to some photos. Sounds like you got a good deal!
re: seized bolts with Phillips heads
everybody that works on old Japanese bikes runs into the same problem, and everyone (i think) has one of these impact drivers:
http://www.pelicanparts.com/BMW/catalog/shopcart/TOOL/POR_TOOL_CAT291_pg8.htm
Clean out any dirt embedded in the fasteners' heads slots, select the appropriate tip from the set, and give it a good smack with a hammer.
Tip- sometimes setting the tool to 'tighten' and giving it a whack or two helps break the fastener loose.
good luck,
max