I agree with Michiganbuck. The lathe looks to be well designed. The fact it can only cut metric thread pitches can be a deal-breaker if you plan on cutting US threads with pitches measured in threads per inch. Unless the lathe has a set of "transposing gears" for cutting inch-pitch threads, it will be useless for cutting common US threads.
The tags on the lathe are held on with "drive screws" or rivets, so the lathe could well have been "badged" by a seller who bought lathes from the actual manufacturer.
The Taiwan and Chinese machine tool builders and sellers have often played off respected US machine tool builders' names to make their products more "saleable" to US buyers. Examples are the clones of the Bridgeport Milling machine which include a "Hartford" , and the free use of names such as Milwaukee and Buffalo. Dayton, being associated with Grainger's catalog as a brand name, might well have been one of those things a seller of the lathe did to try to give it some "brand recognition" or similar "buyer appeal".
It's a good looking lathe from the photos, but seeing it up close would tell the tale as far as actual workmanship, fit of the working parts, and overall finish and "feel" is concerned.
There are 3 deal breakers in my opinion:
1. Lathe capacity is small, if the 7" swing is actual. This would mean that if you took a rule and measured from the centerline of the spindle to the inside edge of the bedways, you should be reading about 3 1/2". This is quite a small swing and will limit the jobs you can do.
2. Lathe is setup to only cut metric threads
3. Lathe is an unknown, and getting any kind of information or parts for it will be next to impossible (never underestimate the power of the internet). My thought here is that the spindle nose may well be threaded with some metric thread, and you will be on your own to measure it up and make backplates to mount additional chucks or faceplates. A lathe this small would be a candidate for a set of collets as well as chucks. The 1.25" spindle bore is what Southbend used on their Heavy 10" lathes.
The Heavy 10" lathes can use 5C collets- a versatile size of collet and can handle work from 1 1/16" to 1 1/16". For small work, a set of collets is really handy. This lathe, being unknown as far as the spindle nose and taper inside the spindle bore, would likely be fitted with a "collet chuck" mounted on the spindle nose. That brings it back to being able to come up with a backplate to mount the collet chuck.
I imagine that, being out in Wyoming, you are in a kind of "desert" as far as availability of good used machine tools for home shops is concerned. If you need a small lathe and can live with this one's limitations, then check it carefully to determine actual condition. Appearances can be deceiving, and photos posted online are even moreso.
My own guess is that this lathe may have been made in one of the former Soviet-bloc countries. The design, along with the fit and finish (at least as far as the photos go) leads me to think it is a bit better class of machine than the small lathes coming out of China or India. A clue might be found by looking closely at the motor and the electrical controls. The finned housing on the motor looks "imported" - US small frame motors rarely have finned housings. The motor may be original to the lathe as it seems to have been mounted with no signs of adaptation. If you can get to the motor nameplate, it may give a clue as to country of origin for the lathe.
How the lathe found its way to Wyoming (or nearby) is anyone's guess. It does not appear to have been abused, nor does it look to have been re-painted. Rather than belabor how the lathe got to your neck of the woods, the important thing is to make the big decision as to whether you can live with the lathe as it is (metric screw cutting and small capacity) and then to ascertain as much as possible as to condition of the lathe.
