I saw your post over on the other site (PM)...you have additional photos there and also describe that you seem to have parts from at least 2 different lathes...one looks like a relatively recent (1960's-1970's vintage) Craftsman 12 x 36 lathe, likely a model 3983 from one of the pics you showed the other forum, and the other is a Trucut armature lathe as you already know. It looks like your Dad was using the trunk of an old car for his parts "rat-hole" and there are lots of goodies in there for folks like us.
With all due respect you should provide full disclosure (all relevant detail + all photos) and then try to ask with some precision just what it is you are after. It's OK if one question leads to another. The quality of responses will be proportional to the investment you make in setting the thread up. Now, back to the mission at hand....
That is a big lathe in the overall Atlas suite of offerings. Most were much smaller and less robust. The rust you highlight on the parts is minimal...it will clean up well and pretty easily. The portion of the headstock in your one photo looks to be in great condition. The main issue is what all you have vs. what may be missing IMO. Here's a couple of pictures of what that lathe looks like in complete form (if my deduction is correct);
Here's a good site with lots of detail on that lathe >
http://www.lathes.co.uk/atlas/page4.html
In addition to researching that specific Atlas model you seem to have I also recommend you spend some time here searching various metal lathe re-build project threads and reading them to see what is possible and just what is involved. Also, if you rip that trunk apart and gather the Atlas parts you do have together and spend some proper time organizing them and laying them out for a series of photos you will get a host of educated responses as to what possibilities lie ahead and the cost/benefit and effort involved...until then it is mostly speculation.
Atlas lathes are pretty ubiquitous and were common machines. The parts you have are actively being sought by others so at the very least your efforts will be rewarded by getting you ready and educated on those for marketing purposes prior to any re-sell attempt if you choose to go that route (selling off the parts you do have).
I suspect that trunk is full of other surprises too from the teaser photos and that your Dad was squirrelling them away with some good purpose in mind. This forum and others will be invaluable to you in getting the baton passed over to you if you are willing to put the effort in to fulfill the potential that lies therein. Good luck on your quest.