It's having just been given one of these that actually got me to just sign up for the forum after years of reading it as a non-turning 'guest' ',;~}~
Never turned a pen in my life so can't really attest in that regard.
I will echo that mine doesn't like to be run too long though - it has fresh bearings throughout, and even without the motor getting to feel more than slightly warm, after a short while turning it starts to slow down then speed back up of its own accord, then won't start back up for a few minutes once turned off if run a bit longer.
Heard plenty of mention of this but never explanation of the mechanism of it - don't know if there's a crude temp. cut-out inside the motor or what.
One thing I note is that it can't be too hard to find a workable, more modern/higher power replacement that could be made to fit.
As for distance between centres - yup it's def. limiting but again looking at it, can't see any reason that for wood turning small spindle forms that some way of moving the tailstock further back or replacing with a make-shift tailstock couldn't be done by someone good with their hands.
If ya have one already these things may be considerations before giving up on it but otherwise, suppose ya just have to know what ya want and go with it.
Oh - also to add - dunno about the USA but over here (England) there's plenty of spares/new parts to be had at reasonable prices - picked myself a 12mmx1mm live centre for about £14 earlier this week, plus all the parts to turn it into a milling machine/tool grinder etc. and for fitting a power feed still seem to be around (the Unitmat was made as a convertable multi-function/mode 'portable' mini-metal workshop for watchmakers etc. and can be made to do all sorts.)
Cheers and be well!
FlowolF