Hey Dave, that's a tough call... if the saw was one of the cheapo plastic ones, you'd definitely have to throw it out - the new ones are rated for 50 hours. It sounds like you may have a better quality saw than that, but there are definitely concerns there as well - does it have a chain brake? Does it work? Does it have a chain catcher? There's a good chance the saw is oily because the oiler leaks no matter what... One thing you might do is try to find out whether that Poulan is in fact a Jonsered, because some of the older models overlapped... in that case the saw may indeed be well worth some repair money.
The trouble with a used saw is that if it hasn't had maintenance, hasn't had good oil, it possibly also hasn't had good gas, and it may be pretty crunchy inside the cylinder... you may want to take the whole thing apart (or pay a tech shop to give you an idea of how much wear the thing has) before you put $100 bucks into it.
Good luck.
