It’s the hidden unknowns that get you. Misaligned headstock, other bearings and their respective carried components, even a well seasoned bed casting is going to shift when not stored level after so many years. A fine machine for an I’ll take a chance price though.
Face it, most of the guys that will take on a machine like this, want it for doing essentially hack work on a farm, or in a similar small shop, where great deal of what 'may' be wrong with this machine, frankly, will never get noticed.
As those things go, I would like to see it in person, before making a decision on whether it would be of use. It seems to come with most of the basics, the rust on the ways could be a killer, or a non-issue, I have cleaned up some pretty ugly looking ways with mineral oil and steel wool.
Compared to what you get at Busy Bee for the same money, there is a PILE of capability, for the dollar spent, and even if you have to pull a few parts from the carriage and straighten or weld a few shafts, it doesn't look like a real high risk to me.
From my view, the real "watch" issue, is the headstock bearings, in the English Colchesters. They are a custom size made by Gamet, and there are no other sources, so they are pretty dear to replace if they are done. Like, I would likely scrap my Master 2500, if the bearings were hooped.