Maybe. Maybe not. Probably not. I dunno, but at least I'd have a little more control over the condition and the cost.
All great arguments in favor of rebuilding one yourself, IMHO. Especially since a lot of them seem to have been recovered in the 80s, not the 90s, and there's been a lot of water under the bridge since then.
And yet another argument in favor of picking up a cheap one and doing the rebuild yourself. Whose side are you on, anyway?
If it's got a starter, it may as well have an alternator or generator and have enough of an electrical system to support at least a COM radio and transponder. A transponder is really one of my requirements. I live and fly very close to a C airport, and there's a big ol' overlapping double-C airspace between me and a lot of my intended regular destinations. Maybe I could theoretically "thread the needle" between KOMA and KOFF to get east from here, but to me it just doesn't seem safe or prudent. If you want to see what I'm talking about, check the airspace just to the east of KMLE on the Omaha sectional. If you're transponder-less it ain't pretty.
As for the annual... I don't believe I would be inclined to trust a seller's annual, especially a recent one. My own prebuy would have to be done by someone I trust, who knows what to look for. Fortunately I have one or two of those people around. Even a "project plane" that will be coming home on a trailer would need to at least be viable as a rebuilder and right for the price.