Cincinnati was my home town and I've been trying to get a feeling for the history and quality of the various lathe companies that used to build machines there or close by- Monarch, Lodge & Shipley, LeBlond, American Pacemaker, Cincinnati and others. Some day I'd like to own a machine from each of them (yeah, dream on, maybe I'll hit the lottery).
As far as I can tell the Cincinnati machines are considered to be good but not great. The company that built the lathes was originally independent of Cincinnati Milacron but was acquired by them in the 60's, supposedly just to get access to their buildings. However, demand for the lathes increased when they were associated with Milacron and they kept the company going for a while. From the prices that I've heard quoted, Cincinnati Machine (or whatever they're called now, it used to be Cincinnati Milacron) will build you new parts from their drawings but charge you through the nose for it, you're probably better off taking the old one to a local machinist and having him make it or make it yourself.
If the machine is otherwise in good shape it still may be worth getting, its definitely not a piece of junk.
Good luck-
Paul T.