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My LHS has a Williams By Bachmann Santa Fe Berkshire on the shelf for $200. I asked one of the owners about it and he said it had been dropped and repaired. Is this a good deal or should I consider a different engine? He said it runs great but I could tell that it had been damaged and repaired (bent grab irons and marker lights glued back on pretty solid).

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My experience with WBB steam engines has been less than gratifying (I would contrast that to Williams pre Bachmann).  

 

Given that the Berkshire is a common model, I would find a good Lionel postwar, MPC, LTI, or LLC version.  They are plentiful and even the recent conventional classics, which are very nice remakes, are selling here on the forum in your range.  A very clean postwar original could also be found in the $250-$500 range, and if cared for that locomotive will outlive you.  

 

Just my .02.

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