I'm with Des & Jonesy on the value of these late 2nd gen cars. IMO, a good project car with a few rust concerns can be bought for 5K-8K while a decent driver can still be found from 8K to 12K depending on the options and whether it's a stick car or not. I have also seen some rust free driver cars in the 12K to 18K range that were real strong looking cars. Finally, you can find nice low mile survivors in the 18K to 28K range if you look around.
I put little faith that any of the high priced eBay cars are selling for what some people are asking. The current push on classic muscle cars is surely dragging these cars along some, but I doubt either genre will continue to climb and highly suspect there will be a cooling in the next 6-12 months. So...what's a real nice low mile 77/78 driver worth? IMO, clean ones are still around and easily bought for 18K to 22K, while nice survivor cars can still be found for 22K to 28K. They built boatloads of these cars, and they are anything but rare.
Just look around...
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I like solid lifter cars, big cams and cars w/ 3 pedals in them. 
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