Civic VX 195k pictures by robert-0137 - Photobucket is the link you tried to post, if anyone else wants to check it out.
That civic VX looks to be 100% stock, other then the bondo and red duct tape, and tires that are a size wider (very common) then stock, the rust is common and I've seen worse but it tends to grow fast if nothing is done about it.
I see no reason that it wouldn't last to 300,000 miles if the body lasts that long, so really it's going to depend on if you put 20,000 miles a year on your car or 5,000 miles a year as to how many miles it will last.
Things to look for of course are the o2 sensor, it will stumble at while at cruising speed and feel like you are loosing power, also assume that the timing belt was last changed 95,000 miles ago unless the current owner says otherwise, the timing belt is good for 100,000 to 120,000 miles and a used engine is the cheapest way to fix a broken timing belt, you might also check to see what the compression is on the engine (warmed up, throttle open) it should be 195psi to 210psi, even with 195,000 miles.
If they jack points are solid and everything else looks ok I say buy it! if they will take $1,500 then good job.