I had a Delta 46-460 for years. I did pens, stoppers, some bowls and pepper grinders. It had an extension, and was ok, but I decided to get a Laguana 18/36. If you have never turned anything larger than pens on a "heavy" lathe, you are in for a welcome surprise. They are so much smoother and just sit there like a rock! The Laguana is around 500 lbs, if memory serves, and I have it on their wheel set, while it doesn't push easy, it is manageable ( I talk to it as I am attempting to move it, and sometimes not so nicely). In my current shop, I have to have it on wheels, but I'm in the process of building a new dedicated shop.
If you don't have wheels you are better off. But once you get it set up, you are going to love it. The weight really is an asset. It looks as if it was restored at some point. It is hard to tell, but looks as if they did a good job. Congratulations!
Oh, and it's "old Arn", not Iron. LOL
Let us know once you start to use it, and what you think.