"New" 1997 olds 88 help!

Bought a used 1997 olds 88 with 80K last week. Said it was misfiring (blinking CEL) because he used a refurbished "rotor". I took that to mean distributor rotor, which would equate with the coil packs on my car. The car has been sitting in the guy's driveway for 2 years. The car drove rough, but still drove well on the highway (I live 2 hours away). Engine was still loud, etc, but the ride was smooth. CEL always on and blinking at a steady pace. Pulled the belt off to replace and the pulleys are rusty. Going to take a wire pad to them and hope that gets rid of most of it until I can buy new pulleys. Anything ideas on how to get the engine running smoother? Have replaced plugs and wires, will do CP if that doesn't fix it. Really hoping it's not the cat. Checked oil, no metal in it. I know the question of why I even bought the car will come up, I got a good deal on it. $1,000 3800 engine with 80K, needs a little work but for that deal I am willing to do it. Just need a little help getting there.