It is most of a Shopsmith, most likely an er model. I'm biased, as I am a Shopsmith guy. If you are looking for just a disk sander it actually isn't a bad idea. The tubes can easily be cut to reduce the length. It has a large stable table.
The bonus would be that this machine, with a few parts that are possibly there could be a nice lathe, horizontal boring machine, and tip up for a drill press. You can also mount wire wheels, drum Sanders, etc.