Clappedout, I see vintage machinery like that at thrift stores and garage sales occasionally. Your endorsement makes me want to take a second look now.
Just be aware you will likely need a new plug, cord, strain relief, grease, and possibly a switch and bearings. $20 is generally a fair price. Avoid ones that seem caked in concrete dust unless they run and sound good.
There was a very good reason why millwrights gave up on the old heavy 7"ers for the Makita 5".
The 7" ones have their uses.I bought a new 7" Bosch for one job, just to get the depth of cut. On a bench you can use the larger wheel to flatten a piece of hot rolled, laying it dead flat, letting the weight do the work. These advantages don't out weigh the greater productivity of the Makita 5".
Of the old 7" ones, the B&D might be the best portable electric tool they ever made. But get one with a with a guard. Castration could be painful. What else is at the same height as the bench top ? I've had a few wheels fly apart on me over the years, but I refuse to use a grinder without a guard.
Guards would be nice. Other than in the catalog, I have literally never even laid eyes on one. I'd love it just to keep the sparks out of my eyes.
The mass the of the grinder can be very beneficial in certain scenarios when working at the right height. I used to go a lot of cut-off work with a 4 1/2" blade. I found they wore out super quickly, and at 11k rpm, if you dared snag them everything went wrong in the blink of an eye. I've broken or chipped multiple blades. When I switched to a 7" on the big 4k RPM grinder, the problem disappeared completely. Not only is the blade life great, and the cutting speed even better, but the grinder weights so much that it can't **** itself in in a snag situation. I can still just one hand it I have to, but that's not much fun.
The new grinders certainly have their place for overhead and professional work where they will grind a long time, I get that. But for a home user that doesn't use one much and just wants something that can last forever, you can't go wrong. Other than the safety aspect of course.