Dead, If you're gonna buy a Fiero, go down south to get one.
I had a '85 GT once. Just once.
Car was very cool, black w/ silver rockers and gray cloth.
Was spotless underneath (rust), except where you can see. Metal flanking the rear shock towers and upper "frame" were gone. You have to remove the plastic inner fender wells to see it, and remove the body to fix it.
And this was 16 years ago.
Another indicator is pulling the carpet away in the "trunk" of the engine compartment to check for any rot up top.
The 2.8 head gaskets are crap.
Brakes would never bleed to get a solid pedal, with ALL new components.
But that's another story.
Sold the car with less than 100 miles logged...