If you can really pick up a Belarus 420AN with a loader for $1,000, then you should do it today. I base this not on a Belarus being a great tractor, but that is basically scrap value (at least in my neck of the woods). Right now, we're getting right at $300/ton for scrap, and a Belarus 420 AN should weigh in about about 7,000 (heavy tractor), and I would bet the loader with bucket will add another 1,000 at least, so it's worth $1,000 sitting still.
I owned this same model (Belarus 420AN) for many years, and it certainly had it's issues, but it was not without its merits, either. Most of the problems were electrical, and if you can get handy with a spool of wire, some crimpers and a multi-meter, you can fix alot of those pretty easy. I think I had it for about 7 or 8 years, and it was overall a decent tractor.
If I had an opportunity to pick up a running Belarus, slipping clutch or not, for $1000, I would do it (again, you probably won't be out anything if it completely goes to crap). Besides scrapping, the bushog loader could probably bring $1000 by itself if you are patient.
Good luck and take care.