It looks like it might be a good lathe but it's impossible to tell from the pictures. You'll have to inspect first hand, try to take some close-ups and post them here if you can. Also keep in mind, these machines are old and not perfect so it depends on how much wear and tear you can live with. In general even a moderately worn lathe can produce accurate work once you learn it. As for price, its hard to say what its worth, its the value the owner put on it vs what you feel comfortable paying for it, if you can agree, then its all good.