Well here is my opinion. Due to the cost of replacing plastic and other parts on these bikes, I've seen many of the totaled over what I thought was fairly minor damage. It sounds like you have tested it out well enough to know that there is no bent frame, forks, etc.
That being said, It would not bother me at all to buy and ride the bike. You will NOT get a good resale on it but heck...look what you are paying for it to start with?
The only real problem is that if and when you do decide to sell it, you may find your buyers market limited to only those who can afford to pay cash. I'm told that many financial institutions will not loan money on a vehicle with a salvage title.