Yes, it will be wonderful for yardage. In fact, there wasn't anything that needed to be ironed (that meant just about everything in the 60's and 70's) that I didn't iron on my Ironrite.
It will take some practice to get good at it. It is operated with a knee lever. I hope it came with a user's manual. You'll need some instructions.
A bit of advice - before you try to use it, make sure it has a good supply of oil. It needs it just like your car engine does; you pour it right in. It uses a very fine grade of oil. Only problem - I don't know where you can buy it nowadays. Maybe if you google it you come up with something. Good luck!