I started paddling in an Old Town Mach 5. For those of you who can't think back that far it was fiberglass. You have really not had a rush until the top of your boat caves in on your legs during an inadvertent ender. Then I got a Dancer and thought I would never need another boat. Well, like in most cases, technology has taken over and the sport of kayaking has changed, dramatically. Now I have a BigEZ and most of you probably call that an out of date boat now. (Maybe that explains my slow transition into rafting, or maybe it is the ability to drink beer on the river)
Anyway, a Pir S is outdated and there are certainly fancier play boats out there. But, you can run big water in one, people did it for years. I've run the Gauley many times in my Dancer. You can play in one, maybe not cartwheels, but you can certainly have some fun. It will be way easier to roll than any of the new boats too.
My advice, if you are a beginner, is pick it up for $100 bucks. Paddle it for a year to learn the ropes, then donate it to some outdoor program or high school and use it as a tax write off.