That's a good deal. The toolpost is not OEM but you'll love quick-change post way more than the oem. Looks like some nice accessories to get you started.
I agree the stand will have to be stiffened up so you can bolt it down and level/straighten the ways. You can't just set a lathe down and expect to cut straight cylinders.
If you can see it in action all the better. check the spindle (chuck end) for play and ask to make a cut. bring you own mics and see if it's any count.
