JCote,
Great bike, awesome price. I am about your height and weight, and I love my 400F. Its plenty fast, really nimble and an absolute blast to drive. The Parakeet Yellow is a rarity for the '76 - most having come in Red. If I did not have mine already, and I was offered the bike I would jump on it!
Just take a look at the frame by the sidestand. These bikes are prone to fail there, make sure there is no corrosion or messy welding that does not look like it came from the factory.
Check the pipes and headers for corrosion and wear. New parts are available, but very expensive. I have seen these bikes sell for upwards of $3K US, so if you have the means to put some $$ into the bike where needed, i would say its a pretty safe investment. But then again, I have a serious disease when it comes to '76 Hondas

Best of luck, let us know how you make out!
Gersh