See what he wants. I personally wouldn't go over $175-200. $100 or less would probably make me grab it.
Negatives....
-Multiple paint coats, some rust
-Missing a few parts
-3 phase (really a killer unless you have a converter at your house). A 3/4HP 1725 motor is going to set you back some. Or a VFD is going to be ~$125. But you don't know if that motor works or not.
-Homemade belt guard
Positives....
Good drill press
No extra marks in table
Parts are available used, but can be expensive. Some folks collect those machines.
MT2 spindle with chuck
Low speed pulley model
Word of caution, the spring housings on those presses are pretty fragile, use care when adjusting.