That machine is in excellent shape. There is a huge amount of diamond wheel left compared to what I have. Mine is Serial 4419, much more recent but used by non experts heavily for many years before I got it. (It came with about 50 ground to the bone bits, unusable, and they said that they had thrown out many hundreds before.)
It cost me $350, if I remember correctly, and was part of a shutdown of a department where all was going cheap.
The only drawback with me is that you cannot do carbide burnishing bits, cannot get to all four 90* angles without remounting the bit-then is is faintly inaccurate after remount. [Also I have to remember how to use it each time, duh.]

Philadelphia, PA (Really Bensalem)
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