Pre 64s are in demand, although most want one in a little better condition than what you describe.
Not a great deal of collector value due to the condition.
All of the older 94s were loose, that's what made them cycle so well compared to the newer/tighter 94s.
Guns of that vintage will almost always show signs of bluing wear and most will have the wood beat up some.
The asking price isn't really out of line but I would like to buy it at around $300.00 as a good ole shooter.
The 29th edition of BLUE BOOK OF GUN VALUES lists it at just that, $300.00 for a 50% condition standard rifle.
LONGTOM