At least they apparently TIG welded the repair instead of MIG or ARC welded it. If your not looking to make it a serious rider, should be an easy fix, just finish the weld. The dent can be silver soldiered or leaded up and the frame can be rechromed. I'd check out some of the ReChroming nightmare threads in the restoration section before haveing that done, you might want to go with powder after reading some of those posts.

Nice save!