Check out my new toy!

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Hey guys I am a newbie here allthough I have been lurking around just reading in awe of all the pro fab skills for a while.  I have been looking on and off for a lathe for my home shop and today I think I found a good deal.  It is a Warner & Swasey lathe and I dont know much about it at this point but I am sure I will pick it up fast!  I paid ............... drumroll.................. $250!!  So did I get ripped off? Attached Images
Reply:Congratulations, it looks like an oldie but a goodie. It should do some great metal lathing!John -  fabricator extraordinaire, car nut!-  bleeding Miller blue! http://www.weldfabzone.com
Reply:Hey shoprat,Just a couple notes for you to have good luck with your new lathe. I used to operate several Warner-Swasey lathes back in my 'ol machinist days. My shop lathe at home is an old 1939 Southbend 10X36 that still runs within .001. Quite rugged and accurate if you keep it maintained & lubricated. You would best get some measuring instruments, ie. dial indicator on mag base and caliper, and check your spindle is concentric, tailstock & chuck alignment, and conditions of the ways. One main note is to never use an air hose to blow chips off the lathe. Use a soft-bristle brush and a shop vac. Chips that get blown under the apron and leadscrew gearing can cause severe wear to those areas. Keep it well lubricated....Good luck...DennyComplete Welding/Machine/Fab. ShopMobile UnitFinally retired*Moderator*"A man's word is his honor...without honor there is nothing.""Words are like bullets.... Once they leave your muzzle, you cannot get them back."
Reply:Looks like an old Turret Lathe.  My dad would worked for Kearney & Trecker Machine tools (they bought Warner Swasey) for 35 years. He'd be tickled to see someone still using the old stuff.  He could tear it down and put it back together in an afternoon.  I also restore old equipment for use not just to gawk at.  I'm currently finishing up a 1912 Marvel Draw Cut #2 Saw, a Walker-Turner L540 (1932) lathe and a 1932 or 36 Arcade Mini-lathe.  These things are fun to play with in the garage.Michael
Reply:I would like to see some pics of the marvel draw cut saw through out the restore if possible, as i have one in my garage waiting for me to bring it back to life.