The saddle definitely needs to be raised, but I have to say, a horse that rides honestly even with poorly fit tack, is a horse worth his weight in gold.
As far as his conformation, yes, he is a bit ewe necked, but over all, I think he is a decent looking horse, and he has a real kind eye, and appears to be a solid riding horse. Again, even with that poorly fit saddle, this is a horse worth his weight in gold, because he obviously is an honest horse, who is going to take care of his rider, no matter what.