General "rule of thumb" for TIG welding steel is 1 amp per 0.001" of material thickness, single pass. So, with 175 amps, you'd be looking at about .175" thickness max single pass. That of course is a very broad generalization, and joint configuration and other factors will complicate the matter.
That machine is also a pretty decent stick welding machine, and would handle up to 3/16" electrodes no problem. (I actually learned to weld on that machine at school a few years ago).
The reality is that any base metal thickness over about 1/4" is going to be multi-pass welding anyway for a full penetration weld, and that applies to both TIG and stick. So the actual answer to your question is "unlimited", assuming you have unlimited time. For anything over about 3/16", I would recommend a groove weld, and run 2+ passes to fill the groove. A quick Google of "weld joint design" comes up with a few good sites that will get you started.
Edit: $800 is a great deal for that setup in my opinion. Make sure the bottle is a "customer owned" bottle, not a lease from the gas supplier, and that you can swap it out somewhere near you.