Hi Dave
I saw two of them at one show. One was listed selling price of $600.00 and need to be restored. The other one was in better shape and the asking price was over $900.00. Both of them where not as nice shape as yours.
1) Nice find, Dave! While I didn't go for these back in ~1998-99 when they came out, I did grow to like them and sought out both color variants over the last few years. They are really nice.
2) nvocc5 - The ones you saw were most likely original 300s (not the modern #305 variant Dave has above) if they needed restoration (while I suppose it's possible a newer one met with an ill fate, most people don't consider restoring modern items as much as pre/post war items). For those of us looking for just functional and a nice looking piece, the modern items are a no-brainer in terms of bang for the buck (I think a mint boxed one of either color would go somewhere between $300-450 over the last few years). For people that want a true original item from the pre-war era of Lionel, even ones needing restoration can cause people to decide it's worth it. When I had a table at York a few years ago, the gentleman across from me was in the process of liquidating his collection. The last piece he had was an original Hellgate that he had forgotten he had stashed in a corner of his house somewhere. It was not pristine, (probably scratched and some paint chipping), but it wasn't all rusted either. I believe he had it listed for ~$1200. Me not being a pre-war person, I had no idea if that was fair or not. It sold with no haggling just a short amount of time into the meet. The guy who bought it was working on a pre-war tinplate layout, and he mentioned the bridge was the last piece where he did not yet have an original (as opposed to modern reproduction of some flavor, Lionel, MTH, etc) installed, so both parties were very happy with the sale price.
-Dave