I'm pretty much a die-hard Honda ATV owner . . . you should know that before I start to comment on this particular ATV.
This is an older ATV which is no longer made . . . it basically was supplanted by the Sportsman 500 which was also produced in that same year. The Sportsman was a bit fancier and offered a few more bells and whistles with newer tech . . . the newer tech being the very nice independent rear suspension which I will admit that Polaris has fine tuned very nicely. The IRS in a Polaris (and many other ATVs now) is something that is very desired for folks who like plush rides . . . it's also useful for folks with bad backs . . . and I suspect the reason that Magnum went away was due to the public's desire for the nicer riding IRS.
That said . . . I have a solid rear axle in my Honda and I have no real beefs with it . . . although as I grow older I find myself really liking the more comfy ride that IRS offers . . . although solid axles do tend to be bullet-proof.
There are some potential negatives in the Magnum . . . note I said potential, not definite . . . and some of this may be due to my own bias.
When I purchased my ATV back in 2000 or 2001 I went with a Honda for several reasons . . .
Reliability: Polaris ATVs of that vintage and older were not always super reliable. Today I like giving Hiram a hard time about his Polaris even though I believe Polaris and other ATV manufacturers are now pretty good in terms of reliability . . . but it wasn't always that way. If you look around at older ATVs that are still being ridden I suspect you'll find a lot more Hondas than Polaris ATVs.
Chain Drive vs. Solid Shaft: Older Polaris ATVs used chain drive which to me was a weak link . . . apparently Polaris and the public agreed since the Magnum ATV (and all newer ATVs these days) use shaft drives.
Belts: At one time there was a concern about the Polaris drive belts slipping and burning up . . . it still can happen . . . but quite honestly it's really rare . . . not so much with the older ATVs . . . but if you keep it out of deep water (and I'm talking deep water) you will most likely be fine.
Radiators: This is a liquid cooled ATV . . . most newer larger bore ATVs are now liquid cooled. There are pros and cons to liquid cooled . . . having to clean the radiator is one issue which continues to vex some owners . . . the trade off being more power. One of the things I disliked with older Polaris ATVs (and which has now largely been corrected) was the radiator was relatively low and exposed with no radiator guards . . . a real problem if you were driving through brush and put a stick or branch through the radiator . . . if you're planning on sticking to trails this may be a non-issue.
Top heavy: One of my main beefs was and continues to be the top heavy feeling I get from riding a Polaris. The ride in terms of comfort is incomparable . . . the only other ATV that rode as nice was a Yamaha Grizzly . . . however with the Polaris I often feel as though I'm sitting really, really high . . . vs. the Honda which has always given me the feeling as if I have a lower center of gravity. The height difference in terms of ground clearance is a bit more with the Polaris, but I think the real issue is in terms of the frame, seat, etc. . . . for me I like feeling as if I'm sitting lower to the ground as it feels more stable, but this is most likely a personal bias from always having ridden Honda ATVs.
I would say the price isn't too bad . . . even though it is an older ATV the mileage is wicked low. The fact that it is 4WD, shaft-driven and has disc brakes (something I wish my Honda had) are definite pluses.
"Courage is not the absence of fear, but the realization that there is something more important than fear."
"Death is only one of many ways to die."