Hi all, sorry for being offline for the last week or so. Thanks for all the comments and inputs.
Yes, I did take my coach's inputs on the clubs. He likes the Cleveland Irons and also checked the gear - looks like they have hardly been used at all. The owner has 3-4 other sets and does not use this very often. He was moving out of here and did not want to carry this set paying excess baggage.
I currently live in Dubai where the access to used clubs is limited and typical price of golf equipment is twice of what it is in the US. The shops here carry a beginners set called Wilson X31 and this set is sub-200$ in the US and it is 435$ here!! That should give you an idea. I am yet to see any set of irons in the shops for less than 300$. Most are in the 500$ range.
So, I finally picked up the entire lot and the current owner threw in some extras - a pair of shoes (footjoy dryjoy), 2 gloves, balls etc etc. I also picked up both the drivers (will try both over the next month and probably give up one). I think I paid 30-50% extra for the gear but I think the prices here make this a decent deal.
I will use this for the next 6m or so and when I visit the US during the summers, I plan to get the custom fitting done and pick up some gear.....