Looking for some un-biased advice here. I picked up a Buescher aristocrat alto for $100.00 knowing that it needs a repad. I am not sure if I should re-pad it, or buy a new (a Prelude, for example)or lightly used student sax. Ultimately, I am wondering if the Buescher Aristocrat with new pads is an equivalent instrument to the newer student models available, and if the repad is a worthy investment. cheers

I would say Repad it, probably would be a pretty good sax.

Very Biased advice here. . . .
RE PAD IT !!!!!!!
REPAD IT REPAD IT!
Need I say more? I doubt you can find an inexpensive 'student' model saxophone that will sound as good as A buescher aristocrat with properly padded and aligned keywork.

RE PAD.

it's a rare instrument and worth repadding. I have no idea how much a repad would cost however, but it would be a shame to let that classic instrument go to waste.

I bought a SoundZ alto at a discount online store here in australia and it was such a fine instrument I went back and bought the tenor as well. And I may buy the soprano too? My point being that the more saxophones you have the happier you will be. So perhaps you could repad the classical one you have and also buy a new one or 2.