If the lathe does what you want of it & you are happy with your investment, then you made the right choice for you.
My mid-60s Super 7 was an ex-school machine. It was purchased "cash in hand" from a machine tool dealer where I happed to be working sorting some issue with a machine he had bought that my previous employer had retrofitted. I noticed the Myford in the showroom & he offered it at what i though was reasonable price (£825 IIRC – about 20 years ago) for what was included – 3 & 4 jaw Pratt Burnerd chucks, 7" faceplate, catch plate, taper turning attachment fitted, 3 full sets of changewheels (!), a set of "boat" tools & the tray top stand. I was rather dis-satisfied my the Boxford CUD I had at the time & thought that I would fettle the Myford, give it a try & sell on the one I liked least. The Boxford went.
It didn't take much fettling – new belts, a good clean & stripped the carriage assembly to clean out the grease from the oiling points. Biggest job was to sort out the cross slide, which was bent due to overtightening of the compound clamp screws. A lunch time on the surface grinder at the then work sorted that.. It was 3 phase, but an ex-equipment VFD courtesy of my brother set to a fixed 50Hz sorted that.
I subsequently bought a second similar machine in poor condition (badky wor & damaged due having fallen over backwards. But it had the screwcutting gearbox, which mine lacked. A friend was interested in the machine if I rebuilt it, so I made a start by scraping the wear and damage from the bed (10 thou takes some scraping). I bought new parts from Myford which were fitted to my lathe & the slightly worn parts from mine were to be used on the rebuild. Then my friend died suddenly & I rather lost interest – the part rebuilt machine was sold on Ebay for more than I had in it + my machine had been upgraded effectively for no outlay.
Along the way fixed & travelling steadies, an adjustable milling slide, 9" faceplate, metric conversion kit for the gearbox and front & rear Dickson style toolposts have been added – at a guess it probably stands me at around £1100 now, which I don't think is too bad for the capability. The only bit that grates is as a result of it's time in the school – there are hacksaw cut marks on the bedways near the chuck from careless "parting off" and a scar on the front of the cross slide from contact with the chuck. Both are too deep to dress out but, apart from offending me, don't detract from operating the machine.
Myfords have their detractors & many offered today are probably over priced, but I like mine & have no plans to change it. Enjoy yours.
Nigel B.