Atlas lathe need help with basic equiptment function

Yes
It's an Atlas 12" no doubt about it. An AXA quick change tool post would be a good size for it, but if you have the old style lantern one you can use that for the time being. Yes, you move the belt to change speeds. Did you get any extra change gears with it?
Welcome to HM
mark
Yes I got 13 change gears, a big nch of pulleys and things that might not go with it. Does moving the belt need to use another belt. This is what I'm looking at
 
Normally you move one or both belts unless the pulleys are not original- lets see what's under the covers
Most lathes of this age will have wear near the headstock, usually not a serious issue
 
Estimating price is extremely difficult as it really boils down to what someone in a certain area will pay and how common machines like that are in that area. East coast, not much as they are more common there. There have been ads in NJ for free machines recently posted in the Craigslist section on this forum, for example. In my area, probably around 1-2k depending on wear and such. I've seen local SouthBend lathes of similar size reposted in local classifieds for over a year where the seller won't budge from 2k+. I've seen them disappear before I could text them at 1k. Just depends.
 
Looks like you got a very good deal! Next step is to read the Atlas Manual of Lathe Operation, or MOLO, available in the downloads section of this site. That should get you up and running.

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Darn good deal I'd say, considering all the measuring tools and so forth. I'm surprised you didn't get a steady rest in the bargain
The Leblond you passed up may have been a better lathe per se, but one needs to look at the total package and intended usage- for hobby use the Atlas/Craftsman lathes are quite adequate and great values-good bang for the buck
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You got a good deal for the lathe and tools included seals the deal. The drive belt on the motor looks old, I would replace that one for sure. Having the link belt for the second belt saves headache of taking to spindle out to change that one. I had an Atlas for 20 years and it never let me down, I do that all by myself!
 
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