The BOND is on the N-Reg, a Hiller 12C is (almost) impossible to get on the G-Reg. The particular machine looks very nice and is in good nick.
As to the life limited parts:
The blades have no life, but are made of wood and have to be overhauled pretty frequent. (if you get 300 hours out of them you're doing very good)
The mainrotor gearbox has to be overhauled every 300 hours, nobody will tell you that, but it's in the factory maintenance manual.
In general everything is on condition, but that doesn't mean you don't have to replace it ever. In fact there are loads of parts that have a very bad life. You are talking of 50's design.
Tailrotor blades have a life of 2500 hours, these are extremely hard to find and expensive if you can find them. There are illegal 'new' blades on the market, but you definitely wouldn't want these.
You have to look at these machines as old timers just as with cars, you only take them out a few times a year on a nice and sunny day. For the rest you're pampering it. The you can have a lot of fun for say 25-50 hours a year. But if you want regular low cost flying and you're not an engineer yourself don't buy them.