I have a Powermatic 1200, which is very similar in size,weight,quality etc... and also 3 phase. I got it for around $400 (don't remember exactly). Based on it I would HIGHLY recommend the Clausing. These machines are nothing like the standard garage duty machine from Sears or the green bear place, they are massive stable and powerful. Yes,
you'll have to deal with the 3phase issue but there are several ways around that and it could have repair costs in the reeves drive, but you'd be surprized how many used parts are available for this type of machine via ebay or websites like OWWM.ORG where there is a heavily used forum for offering or requesting parts. Every used machine is a gamble, but judging by the overall appearance of a well maintained machine, I would certainly bid on it ( if I didn't have a garage full of such stuff). Good luck.