You are correct, it is a Craftsman 12" metalworking lathe, manufactured
by Atlas for Craftsman, with a 48" bed. Our robotics team inherited
one, and although it is an ok machine, there are a few caveats. The
quick-change gearbox is good, but the belt-drive is kinda funky. Do
you have the manual? There are some weird parts in the belt drive and
back-gear assembly. You should also check the thing in person. The
chuck on mine is kinda old and worn and has 3 thou runout, okay for
most work. The 4 jaw chuck on the wall would eliminate this issue.
Another issue is the relatively small through hole, less than 3/4".
The steady rest on the wall should eliminate some of this problem. You
are lucky that it has tooling, mine didn't have much in the way of
anything and finding tooling has been miserable (read as "made my own")
I am making good use of it (our team is perenially short on cash), but
I am constantly looking for a larger and better machine. The $2500USD
is rediculous. I would say that the machine, in good condition, with
the tooling indicated, should probably fetch about $800-$1000USD. Feel
free to contact me if you have any questions. I have the original
manual and can try to scan it.