On the one hand, he saved you the trouble of lapping it yourself if the IHS surface shows mostly bare copper. If it still shows the nickel-plating, he saved you part of the work.
The rest is speculation. If he says "1.5V," it may have been a "set" value that resulted in a reported voltage even below 1.4V. Then it is also speculation about how long he ran it that way. The G0 steppings appeared a year ago -- almost exactly.
From my quick lookup at NewEgg, you may have saved $45. You have certainly lost "certainty" over the condition of the item. Only way to find out is run the sucker, push it up to the easy 3.0Ghz over-clock, run 20 iterations of IntelBurnTest with known, fixed voltage settings you will find in threads here. If it fails, you swallow the $150; if it doesn't, assume that the previous owner had less than a year to damage it.