The 'Campbell-Hausfield' make of pumps is a so-called 'economy' line, and the pumps are not the quality level of Qunicy or Saylor-Beall units.
That said, one now in good running condition could be cost-effective for 'home hobby use', and would likely run well for quite a few years' time with reasonable use and good maintenence.
I'd suspect, from the photo, that one is the basic 5hp unit sold by Graingers ($2238 list, current catalogue), rated for 16 cfm.
They get that cfm rating by running the pump fast.......for home use, it would be practical to replace the 5hp 3ph. motor with a 3hp single phase, and use a smaller motor pulley to drive the pump about 400-450-ish rpm.
3/5 of that 16 cfm is plenty of air for 'general use', air tools, paint spraying and suchlike, in a small automotive shop. Running at the lower speed, the pump would stay much cooler, so its working life would be much longer.
That $200 is cheap, nearly a give-away for a pump/tank that size.....but....expect to have to have the pump down for valves, maybe rod bearings......there's 'no free lunch'.
(fortunately, those pumps are ever so easy to work on)
cheers
Carla