Delta Lathe, Good Deal?

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That is a solid lathe. I have av delta 1460 which is a similar lathe. Overkill for pens, but will serve you well for larger projects as well. Take a look at owwm.org. Those folks know a lot about older American machines and can help with details of that machine.
 
It's definitely not a steal of a price Fair perhaps

Personally, I wouldn't mind having another lathe like that, but I'd only buy it if it was half the price or less, which by the way, I've seen at least three of at auctions the past year or so Look for night school shops getting rid of them
 
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