60's single-speed cruiser: sizing and value?

I'm ignorant about bikes. My last one was a Roadmaster that I left to rot about five years ago after the true went south after say ten rides. But, I'm living in bike central and I know I need one to get around. I've been looking around, and decided I have my heart set on a cruiser. Not new, but vintage. Where I live Columbia's are a fairly common sight. Almost the only brand for cruisers, because they were made about fifteen miles from where I live.

Now, I found a bike that I really fancy. 26" Columbia, 1967. Fully restored. Looks sharp with an electric seafoam *** robins egg finish. About as curvacious as an old-school pinup. Has working dynamo light + original horn. New whitewall tires, too. Columbia's were more or less on par with any other American cruiser/single gear of the period. I know it's a risky question, but do you think this might be a fair price?

Also, I'm 5 '5. Is 26" too big a bike? I have no clue what my Roadmaster was, and anyway, that was a mountain bike. I don't want a poorly sized bike, because I understand that can be really uncomfortable on long rides. As if pedaling fifty pounds of steel uphill with no gearing isn't fun enough!