You're better off getting a post 2004 one to begin with as you won't have any legality issues... and you should be able to get one [including an Extremed BT82] for around the price of that Jade.
If you've not raced before and are starting off, it doesn't really matter what chassis you choose. Just make sure you get the best conditioned one for the money. The difference between a 'good model' and a 'not so good model' will be small fractions of a second when they're brand new. It'll take you quite a while to get your driving to the point where the kart will actually start to make a difference. So provided the Project One is in decent shape condition-wise, it'll be fine.
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