Well, the sensor warning light is on so first step is going to be checking the all the sensors, most likely keeping an eye on those oxygen sensors, and probably replacing them. I'll probably post any questions when I actually start working on the car. Two more weeks until summer intermission so I can't wait to get started.
Most of the common problems with the actual engine didn't show any symptoms when I started it from cold and drove around for about 15-20 mins. The fuel injectors might be leaking or the lines themselves are bad. Definitely going to the fuel injector problem as a priority before I start using it as a daily. Everything looks like a stock N/A '81 280zx, so it's probably all original parts, but the damn thing starts on the fly and idles perfectly.
After that, I'll probably start fixing odds and ends stuff; new tires, new seats, etc when I have extra cash. The car is in really good shape, I was surprised when I saw it at the yard being driven out to it's imminent death.
Hope to bug you all soon with any problems I can't find through searches.