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As far as I am concerned anything after 79 was junk. This is just my personal opinion. There are a ton of aftermarket supply places out there for the 78/79 Bronco's. Most parts are interchangeable with the 73-79 F-series trucks as well.
Rust over the wheel wells, in the door jambs, under the carpet by the floorboards, tailgate. That is really the only thing wrong with this model. There are a lot of areas where dirt and mud get into that does not get cleaned out while driving in a rainstorm and that is where the rust starts. It looks as tho it needs a fender in the front. Depending on the price it look's decent from here but hard to tell from a pic.
Check the motor, take a close look at the motor mounts, make sure it was done right, and they didn't bolt on some 2x4s to wedge the engine in place.
The axle might be maxed out, unless he upgraded, drive it down the road, and fell for hard shifts, and slack, even in the steering.