It had been stripped of it's strings, tuning keys and bridge. It was missing various screws (including one that holds the pickups), some knobs, etc.
Took it home, cleaned it up. It was covered in stickers, an inch of dust, and somebody obviously spilled a drink on it at some point. The fretboard had a disgusting amount of finger grease and was dry. Some super fine steel wool and Old English lemon oil fixed the fretboard.
I was really surprised that the neck was straight! This thing had lived a hard life. The plywood body had some real battle damage done to it, but it just adds to it's character. I want to thank Lillo's Music () in Edmonton for helping me out with the missing parts for cheap. The people there are simply awesome!
After re-assembly, I plugged it in and discovered it had a ground problem. Re-soldering the wires to the input jack fixed that. Next I found I wasn't getting sound from the neck pickup. Cleaning the contacts on the pickup selector switch with some 400 grit sandpaper and brake cleaner on a q-tip took care of that.
The guitar actually plays real well. The action is decent without fret buzz. The guitar probably weighs a good 7 pounds. My biggest complaint is that the pickups are single coil made to look like humbuckers.
Final Verdict: It's not a high end guitar, but it's certainly better than a lot of cheap electrics that are out there. (It's better than my first electric).
Here it is;
 
I've named it Oscar.
-edit-
I got the picture to display properly.

