I'd buy it. Five mags are worth around $100 to $150 all day long. That means you're getting the gun for $300 to $350.
Scratches, if they're not too deep, can be removed with grey scotch brite pads and flitz or mother's mag and aluminum polish.
The gun is heavy (low felt recoil). The front sight is part of the slide and won't come off unless it's milled off (2nd generation gun).
It's a beautiful model and would make a great bedside companion.