Nice deal on a "Greenie" and accessories! I have a couple of those in pieces in the shed, did some deals and swaps over a few months to upgrade my model 500 (like yours) to a full-fledged 520...the heart of my woodshop.
Parts from any Mk V model from any year are completely interchangeable, craigslist and eBay are often chock-full of parts/accessories. A (really decent) Shopsmith bandsaw can be as low as $100 used, much more for a new one.
I remember turning bowls and making all kinds of stuff on my grandfathers Greenie from about 11 years old...didn't seem dangerous to operate by myself at the time, and I was never injured. Can't remember having problems switching from drill press to lathe (etc.), it was just something that had to be done. 40+ years later, I'm still in love with Shopsmith.
Careful...there's a lot of neat stuff for SS that takes up a lot of room!
Congrats on a very good deal for a very versatile tool.