^^^
"Real" was not meant to be derogatory, only in terms of functionality.
No change gears with it, and if he can find them they'll likely exceed the value of the lathe. No countershaft, no side cover, possibly other parts/repairs needed.
I'd sell it to someone that likes to restore these old classics and get a slightly newer model that would be complete and have full functionality. Having to change gears every time you want to vary feed rate, or screwcutting pitch would be a non-starter for me.
Yeah, I guess I'm in fence-straddling position here: I don't really need power feed, so not concerned with gear-changes; & yet I'm also not into restoring old stuff as a hobby. I want a machine for turning metal. Basic functionality is fine, so long as there's some decent precision & accuracy in the cuts.
For me tools are there to get work done, to magnify my capabilities. Restoring stuff for the sake, or glory, or whatever of making an old thing new again as a measure of prowess & a source of pride is not really my thing. I'm not super big on sending my $$$ overseas, though. That's something I pay A LOT of attention to, source country of products, & I pay more to buy American every chance I get. I gots a pecking order: U.S. (I want my neighbors to remain employed), then Germany + Japan (good quality), Taiwan (U.S. ally & very pro-U.S., big stable air-craft carrier in the west Pacific Ocean), other non-German European countries next (there's another whole pecking order there, Swiss on top, France on the bottom), then all of Asia except China & Russia, Russia, then China last (don't like certain aspects of that nation-state). This pecking order makes buying guitars easy, but makes buying nearly everything else burdensome. I know, TMI, but it's a contributing factor nudging to NOT buy an import.
Unless something truly compelling comes up, & considering all the thoughtful responses I've received, I've decided to do the hard thing: clean up & fix up this lathe, and see where the chips land. ;-)
THANK YOU ALL!!!