Oh I think that would be perfect! Glad you made the deal and she's even dropping it off to you.
Here's a link I had in my favorites list. Hopefully it will be of some help. I can't verify if these instructions are good as I've not tried them out yet but take it for what it is. Cue and some others here have made really nice incubators out of old fridges/freezers so they would likely be able to say if these instructions are reasonable to follow.
http://www.arbreptiles.com/cages/incubator.shtml
When you consider the cost of the following incubator I think you got a really good deal if you can rehab that $60.00 unit into a workable incubator. I've seen Casey's incubators btw and believe me they are fantastic...wish I could afford one myself for this coming season...very well constructed! (click on the Incubator link on the left side of the home page)
http://www.nsreptiles.com/