We feast on pics and updates, like Gollum needs his ring
. So keep posting with updates and pics.
If you give the serial number, on flat way, tail stock end we can tell which year it is. Based on pic, with single tumbler qcgb, I'm guessing 1940's.
Up sides that I can see from pic. It has thread dial, micrometer stop, and all visible covers, doors etc. Plus a quick change tool post, though I can't tell the maker of it.
Down sides for me is no chip pan. To add it proper, needs the chip pan plus shorter legs and a pedestal on tail stock side. 3 jaw chuck, prefer 4 jaw. You mentioned machining a chuck back plate for 2 3/8. You can buy the backplate already machined thread, just need to machine for center boss and threaded holes to bolt a chuck on. Can't see and guess no taper attachment.
Buyers remorse. You live in Ohio ? That's like a machine buying heaven. Not sure what you paid, but if its under $2000 you could break even by accident in most cases with a South Bend. As a bit of an oddity, there are higher end machines that will buy/sell for the same cost. Due to weight or power not everyone can handle. Plus South Bend has a better showing of used and available parts as so many were sold. It makes South Bends attractive to wider audience.
As an example, you were concerned about struggling with the move. A South Bend 16" at 2500lbs. I moved a Monarch 61, also a 16", a few months ago. I want to say 8700 lbs. I had to move it in pieces to manage the weight
. Not everyone is going to do that. It's one reason South Bends are pretty popular in a home shop. Same with Bridgeports for mills, the weight and power is a bit more manageable at home.
A real nice aspect of a South Bend 16" is you have a more weight, power, and stability over the smaller South Bends. And greater work size capability. But you also can run smaller chucks or collets quite naturally for smaller work. Electric power requirements are not big. And its pretty stable and rigid for what it is. A real nice package. A minor drawback being the top spindle speed. Done natural or original it tops out about a 1000 rpm.